<p>Football governance sounds dry until you realize it decides whether your club survives. In this episode, Kareem Rae sits down with Mark O&#39;Neill, a PhD researcher at the University of Westminster studying whether football&#39;s ownership regulations actually protect the people who matter most: the fans.</p><p><br></p><p>Mark breaks down the cases that exposed the cracks in the system, including Dai Yongge&#39;s collapse at Reading FC, the Sheffield Wednesday saga, and why the owners and directors test can only act after the damage is done. He explains what England&#39;s new independent regulator changes, why English clubs remain a uniquely attractive asset class for American investors, and what the Wrexham story really tells us about buying low in a promotion and relegation system.</p><p><br></p><p>The conversation also goes inside the Crystal Palace and Eagle Football case, with Mark, a lifelong Palace supporter, explaining UEFA&#39;s controlling influence test in plain terms and why Palace&#39;s demotion to the Conference League angered so many fans. Plus: nation-state ownership and the Abramovich precedent, why Mark would ban multi-club ownership outright, FIFA&#39;s tax exemptions and ticketing controversies heading into the 2026 World Cup, and the one piece of advice he&#39;d give any first-time club investor.</p><p><br></p><p>Topics covered:</p><ul><li>Why the owners and directors test only works after a triggering event</li><li>Reading FC, Sheffield Wednesday, and the checked-out owner problem</li><li>England&#39;s new independent football regulator</li><li>English clubs vs American franchises as investment assets</li><li>UEFA&#39;s controlling influence test and the Crystal Palace case</li><li>Nation-state ownership and the Chelsea sale</li><li>The case for banning multi-club ownership</li><li>World Cup 2026 governance, taxes, and ticketing</li></ul><p><br></p><p>Mark O&#39;Neill Links: </p><p>Website: <a href="https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbkc4eFhDOGsyN1p6a1F2ZERyVF80U2s0RFFQd3xBQ3Jtc0tucUZFYU41RFFaV2dzVkdGR3kyZEN0RzRhQ1B2VjhpUnQ1MmNvZklYNGM5QUhHWUxoSTZBWmhGOS0tbmdUVlptbnRnakZSVVpjd1ZqcXV4VXh2dVgyOGd1aXNVYmR5ZHFyT2dBU0JwcTFUTFpDQlg3SQ&q=https%3A%2F%2Fwww.sportlawmusings.com%2F&v=kHclgRTw060" target="_blank" rel="ugc noopener noreferrer">https://www.sportlawmusings.com/</a></p><p>Substack: <a href="https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbXpfamdoMUJaQWE2ZGRaYy1lLWhCWENIdWRQUXxBQ3Jtc0trSFVQUVBNbGYzSW56TTFzVU0yWHJLcmpKQlRBR21FMlIzeVMzcEtNMHMxbnZ2a1hYMHJnbGZOYVZPR0R0NVM4QnB5YjRKZEhEbkRMYVBBVVRQNnhMN042MjZtV3Y5TVd3bXRDTzNYQXhMMnprU0Voaw&q=https%3A%2F%2Fsubstack.com%2F%40markoneill468207&v=kHclgRTw060" target="_blank" rel="ugc noopener noreferrer">https://substack.com/@markoneill468207</a></p><p>Twitter: <a href="https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbnZNYWw1X3Y3Z05HeFpQSVpsajY4T0VEcndoQXxBQ3Jtc0ttV01lc20taTJUd2pGTENfUVdVUEZPVDRCM1VRNlZpeTJHX3doZ24xNTR1QTRONGJESlJsdjBvd2Zfb1Yyb0YxSnJvTU9jQmRRdkQ1bmV2N2NpX3k5ZldMWGM4VENXS21TSkNqVnMyQXd2aW82UWdkRQ&q=https%3A%2F%2Fx.com%2Fmarkoneill122no&v=kHclgRTw060" target="_blank" rel="ugc noopener noreferrer">https://x.com/markoneill122no</a></p><p>LinkedIn: <a href="https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbE1xWTlkdV9fVjI1Q2xTTzRBcG5OM2ZOOVpad3xBQ3Jtc0trY2dub2FlSWVNVkx3Z3FkeE1icVlQc3Qzemp2M2REdDJUZ21jc2ZNRTNFNDBkbUxjc3VTNzA0aVUxUF9wMVFwNTNhejRKd2hWUUxRS2Nad0ZjaTNBVEVkQkFaMzlEMHViWnZkUmY1dGFQaTNGTkVLZw&q=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fmarkoneill3&v=kHclgRTw060" target="_blank" rel="ugc noopener noreferrer">  / markoneill3  </a></p><p><br></p><p>-------------------------------------------------</p><p><br></p><p>🔔 Subscribe &amp; Stay Connected</p><p><br></p><p>👉 Interested in appearing on the podcast? </p><p><br></p><p>Apply Here: <a href="https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbVpUMGtmR2tiWG5LM18zVl9UeXlycmdRVjlBd3xBQ3Jtc0tuQUh0WFpwbWhpSDZTSGRmVndmLTNjNE9fQ3YzbDdSeVgtUEx6ZlFvQ0dfSi1tcEY1Wm5tTEZkUXlZandQZG5QcmxfREEyTEh3WV9oT29SOW9qRlUwUUs1cUtHb2FhWmRMLVZIcjd1WE1NdW9CVXBnZw&q=https%3A%2F%2Fonesoccernation.com%2Fapply&v=kHclgRTw060" target="_blank" rel="ugc noopener noreferrer">https://onesoccernation.com/apply</a></p><p><br></p><p>-------------------------------------------------</p><p><br></p><p>© 2025 One Soccer Nation, under exclusive license to One Soccer Nation LLC.</p><p><br></p><p>-------------------------------------------------</p><p><br></p><p>DISCLAIMER: Kareem Rae runs One Soccer Nation (OSN) all views expressed by him and the guests on his podcast are solely their opinions and do not reflect the views of One Soccer Nation. You should not treat any opinion expressed by Kareem or his guests as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his personal opinion. This podcast is for informational purposes only.</p><p><br></p><p>Investment opportunities are offered through One Soccer Nation LLC.</p><p><br></p><p>The information contained herein is provided for informational and discussion purposes only and is not intended to be a recommendation for any investment, service, product, or other advice of any kind, and shall not constitute or imply an offer of any kind. Any investment opportunities and/or products or services shown here will only be completed pursuant to formal offering materials, a letter of intent, and/or any other agreements as determined by One Soccer Nation containing full details regarding risks, minimum investment, fees, and expenses of such transaction. 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