Today, the question of Multi-Club Ownership (MCO) within football has become a heated topic. With the recent exclusion from UEFA competitions of clubs such as Crystal Palace, the reality of these models has gained more spotlight, with questions surrounding the reasons behind their existence in the first place. This thesis aims to investigate one possible reason, looking at MCO structures in football and whether they reflect broader trends in capitalist financialization. The former have grown rapidly, from 40 clubs in 2012 to over 280 clubs under MCOs by 2023, though little academic research has been conducted to this point on this still growing form of ownership in football. The research question is addressed through a first chapter that follows a historical perspective of capitalist financialization and MCOs, followed up by a second chapter that presents three in-depth case studies: 777 Partners, the City Football Group, and Red Bull GmbH. Drawing on Epstein’s (2005) definition of financialization and Fine’s (2012) eight structural features, the study finds that all three MCO models exhibit core financialization trends: the entry of financial actors into football, the treatment of clubs as financial assets within global portfolios, and the prioritization of capital accumulation over sporting or community interests. However, the manifestation of financialization varies across models, from extractive private-equity logic (777 Partners) to assetization and portfolio optimization (CFG) to brand-led platformization (Red Bull). While sporting justifications for MCOs exist, they operate alongside and are often subordinate to financial motives. The findings help conclude that MCO structures in football do indeed reflect broader capitalist financialization trends, though the forms MCOs take can vary between one-another. The findings tell the story of the troubled future of football governance, competitive balance, and club-community relationships in an era of increasing financial encroachment.