• by Fern Siegel , August 15, 2023

Billionaires used to buy yachts. Now they buy soccer teams.

Today, half of the 20 English Premier League teams, in part or whole, are owned by Americans.

In May 2022, Los Angeles-based billionaire Todd Boehly bought London’s Chelsea Football Club for $5.4 billion. Bournemouth cost Texan investor Bill Foley $185 million a few months ago. LA Rams owner Stan Kroenke also owns Britain’s Arsenal soccer team. The Glazer family owned Manchester United until mid-June, when they sold it for billions to Qatari royal, Sheikh Jassim. And rapper Jay-Z has reportedly expressed interest in buying the London team Tottenham Hotspur.

Making a commercial about the trend — “Paddy Power: Football. You gotta love it” — seems inevitable.

Paddy Power, the Irish online betting platform, has launched two spots that parody the billionaire buys. The campaign, by BBH, also runs across social, radio and OOH.

The new spot, the second ad from Paddy Power’s partnership with the agency, opens with rabid supporters of a football club at a pub learning about a takeover bid. The camera pans to a fan who says the club’s history, legacy and community are priceless.

But he's suddenly interrupted when a fellow fan bursts through the doors screaming: “We’ve been bought by an oil baron! We’re rich!” Whereupon, the bar sings their own version of “We’re in the Money,” eventually singing and dancing in the street.

The catch? Billionaire ownership may feed the owner’s ego — but it might not be great for loyal fans.

Tow Muldowney, head of marketing, Sportsbook at Paddy Power, said: “Football has put the oil in loyal of late, with fans changing their tune faster than Jordan Henderson when a Saudi-backed billionaire rolls up in their gold-plated sports car. We couldn’t resist a sheik-y dig at the utter absurdity of it all. And don’t even get me started on Jay-Z! But at the heart of this ad is the excitement of the start of season that fans of all clubs feel up and down the country.”