The One Soccer Nation Podcast

Mark O'Neill - How Ownership Regulations Shape Football's Future

Football governance sounds dry until you realize it decides whether your club survives. In this episode, Kareem Rae sits down with Mark O'Neill, a PhD researcher at the University of Westminster studying whether football's ownership regulations actually protect the people who matter most: the fans. Mark breaks down the cases that exposed the cracks in the system, including Dai Yongge'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'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. The conversation also goes inside the Crystal Palace and Eagle Football case, with Mark, a lifelong Palace supporter, explaining UEFA's controlling influence test in plain terms and why Palace'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's tax exemptions and ticketing controversies heading into the 2026 World Cup, and the one piece of advice he'd give any first-time club investor. Topics covered: * Why the owners and directors test only works after a triggering event * Reading FC, Sheffield Wednesday, and the checked-out owner problem * England's new independent football regulator * English clubs vs American franchises as investment assets * UEFA's controlling influence test and the Crystal Palace case * Nation-state ownership and the Chelsea sale * The case for banning multi-club ownership * World Cup 2026 governance, taxes, and ticketing Mark O'Neill Links: Website: https://www.sportlawmusings.com/ [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbkc4eFhDOGsyN1p6a1F2ZERyVF80U2s0RFFQd3xBQ3Jtc0tucUZFYU41RFFaV2dzVkdGR3kyZEN0RzRhQ1B2VjhpUnQ1MmNvZklYNGM5QUhHWUxoSTZBWmhGOS0tbmdUVlptbnRnakZSVVpjd1ZqcXV4VXh2dVgyOGd1aXNVYmR5ZHFyT2dBU0JwcTFUTFpDQlg3SQ&q=https%3A%2F%2Fwww.sportlawmusings.com%2F&v=kHclgRTw060] Substack: https://substack.com/@markoneill468207 [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbXpfamdoMUJaQWE2ZGRaYy1lLWhCWENIdWRQUXxBQ3Jtc0trSFVQUVBNbGYzSW56TTFzVU0yWHJLcmpKQlRBR21FMlIzeVMzcEtNMHMxbnZ2a1hYMHJnbGZOYVZPR0R0NVM4QnB5YjRKZEhEbkRMYVBBVVRQNnhMN042MjZtV3Y5TVd3bXRDTzNYQXhMMnprU0Voaw&q=https%3A%2F%2Fsubstack.com%2F%40markoneill468207&v=kHclgRTw060] Twitter: https://x.com/markoneill122no [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbnZNYWw1X3Y3Z05HeFpQSVpsajY4T0VEcndoQXxBQ3Jtc0ttV01lc20taTJUd2pGTENfUVdVUEZPVDRCM1VRNlZpeTJHX3doZ24xNTR1QTRONGJESlJsdjBvd2Zfb1Yyb0YxSnJvTU9jQmRRdkQ1bmV2N2NpX3k5ZldMWGM4VENXS21TSkNqVnMyQXd2aW82UWdkRQ&q=https%3A%2F%2Fx.com%2Fmarkoneill122no&v=kHclgRTw060] LinkedIn:   / markoneill3   [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbE1xWTlkdV9fVjI1Q2xTTzRBcG5OM2ZOOVpad3xBQ3Jtc0trY2dub2FlSWVNVkx3Z3FkeE1icVlQc3Qzemp2M2REdDJUZ21jc2ZNRTNFNDBkbUxjc3VTNzA0aVUxUF9wMVFwNTNhejRKd2hWUUxRS2Nad0ZjaTNBVEVkQkFaMzlEMHViWnZkUmY1dGFQaTNGTkVLZw&q=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fmarkoneill3&v=kHclgRTw060] ------------------------------------------------- 🔔 Subscribe & Stay Connected 👉 Interested in appearing on the podcast? Apply Here: https://onesoccernation.com/apply [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbVpUMGtmR2tiWG5LM18zVl9UeXlycmdRVjlBd3xBQ3Jtc0tuQUh0WFpwbWhpSDZTSGRmVndmLTNjNE9fQ3YzbDdSeVgtUEx6ZlFvQ0dfSi1tcEY1Wm5tTEZkUXlZandQZG5QcmxfREEyTEh3WV9oT29SOW9qRlUwUUs1cUtHb2FhWmRMLVZIcjd1WE1NdW9CVXBnZw&q=https%3A%2F%2Fonesoccernation.com%2Fapply&v=kHclgRTw060] ------------------------------------------------- © 2025 One Soccer Nation, under exclusive license to One Soccer Nation LLC. ------------------------------------------------- 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. Investment opportunities are offered through One Soccer Nation LLC. 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. The terms of any product, service, or particular investment opportunity, including size, costs, and other characteristics, are set forth in the applicable constituent documents for such product, service or particular investment opportunity and may differ materially from those presented in this presentation. Such terms are subject to change without notice. Quotes included in these materials related to One Soccer Nation’s services should not be construed in any way as an endorsement of One Soccer Nation's advice, analysis, or other service rendered to its clients/investors.

Andrew Swanson - President & General Manager at Edgewater Castle FC

Edgewater Castle FC founder Andrew Swanson shares his remarkable journey from a soccer fan inspired by Champions League to a community-driven club climbing the ranks of U.S. professional soccer. In this in-depth conversation, explore how a grassroots approach, focused on partnerships with local schools and civic organizations, creates a sustainable model for ambitious clubs navigating the evolving U.S. soccer landscape. Andrew reveals the tactical challenges of expanding through U.S. leagues, securing investment, and building a long-term presence in Chicago, America’s third-largest market for soccer development. You’ll discover how community values shape the identity of Edgewater Castle and why patience and local engagement are essential for sustainable growth. Learn about the strategic decisions behind league jumps, from Midwest Premier League to USL2 and USLW, and the financial realities of running a semi-professional club without charge to players. Andrew discusses the importance of grassroots partnerships, civic engagement, and community culture in establishing a resilient business model, avoiding high infrastructure costs in a dense city like Chicago. The conversation also dives into the broader future of U.S. soccer, including the impact of the 2026 FIFA World Cup, the potential rise of pro rel, and the opportunities for clubs like Edgewater to succeed in an expanding ecosystem. Andrew’s story exemplifies the grit and authenticity needed to turn a small idea into a major community asset, with eyes set on USL League One and beyond. Perfect for investors, operators, city officials, and soccer entrepreneurs, this conversation offers strategic insight and practical lessons for building a thriving club in America’s soccer boom.Subscribe to The One Soccer Nation Podcast for trusted intelligence on the business of professional soccer. ------------------------------------------------- 🔔 Subscribe & Stay Connected 👉 Interested in appearing on the podcast? Apply Here: https://onesoccernation.com/apply ------------------------------------------------- © 2025 One Soccer Nation, under exclusive license to One Soccer Nation LLC. ------------------------------------------------- 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. Investment opportunities are offered through One Soccer Nation LLC. 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. The terms of any product, service, or particular investment opportunity, including size, costs, and other characteristics, are set forth in the applicable constituent documents for such product, service or particular investment opportunity and may differ materially from those presented in this presentation. Such terms are subject to change without notice. Quotes included in these materials related to One Soccer Nation’s services should not be construed in any way as an endorsement of One Soccer Nation's advice, analysis, or other service rendered to its clients/investors.

Mark Dillon - Chief Executive Officer at The Talentprojekt

Mark Dillon, Chief Executive Officer of Talentprojekt, operates at the intersection of player development, global talent mobility, and long-term asset creation within professional soccer. With decades of experience working across European club systems, his perspective provides a structural view into why development environments, not just talent, determine outcomes. This conversation examines the systemic gap between North American and European player pathways, and how infrastructure, culture, and daily standards shape professional readiness. Dillon outlines how Talentprojekt was built to replicate a European academy model while navigating regulatory constraints that limit international player movement. Key themes explored include:• Structural differences between U.S. and European development systems and their impact on player readiness• The role of environment, cultural adaptation, and language in reducing risk for professional clubs• How training volume and competitive intensity accelerate player development timelines• The limitations of pay-to-play and the absence of a clear domestic pathway for families• The economics of player development and how value is created through the global transfer market• Why mindset, patience, and long-term development outperform early performance indicators The discussion highlights a fundamental shift in how talent should be evaluated and developed. For investors, operators, and club builders, it reinforces that player development is both an infrastructure challenge and a capital allocation strategy. Environments that replicate professional standards earlier in a player’s lifecycle create measurable advantages in both performance and market value. ------------------------------------------------- 🔔 Subscribe & Stay Connected 👉 Interested in appearing on the podcast or partnering? Reach out directly via email to Kareem Rae: kr@onesoccernation.com One Soccer Nation Website: https://www.onesoccernation.com/ ------------------------------------------------- © 2025 One Soccer Nation, under exclusive license to One Soccer Nation LLC. ------------------------------------------------- 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. Investment opportunities are offered through One Soccer Nation LLC. 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. The terms of any product, service, or particular investment opportunity, including size, costs, and other characteristics, are set forth in the applicable constituent documents for such product, service or particular investment opportunity and may differ materially from those presented in this presentation. Such terms are subject to change without notice. Quotes included in these materials related to One Soccer Nation’s services should not be construed in any way as an endorsement of One Soccer Nation's advice, analysis, or other service rendered to its clients/investors.

Wolfgang W. Muller - Founder & Acting CEO at F2O Sports | A Mission to Enable Fans to Own The Game

In this episode of The One Soccer Nation Podcast, host Kareem Rae sits down with Wolfgang W. Muller, Founder and Acting CEO of F2O Sports, to unpack a fundamental question facing global football: Is the traditional club ownership model broken? Wolfgang shares a candid perspective on why the current football business model is outdated, how the relationship between clubs and fans is under real strain, and why fan engagement is no longer optional for long-term sustainability. The conversation dives into the growing influence of American investors in European football, the role of storytelling as an under-utilized asset, and why clubs must rethink how they build trust, relevance, and community. With the 2026 World Cup approaching in North America, Wolfgang explains why this moment represents a turning point for the sport, and how regulatory shifts and blockchain-enabled technology are making fan ownership models more viable than ever. He also outlines how F2O Sports is using technology to help clubs adapt to changing fan expectations and create deeper, more durable connections with their supporters. This episode is a must-listen for club owners, investors, operators, and anyone interested in the future of football ownership, fan economics, and the next evolution of the global game. ------------------------------------------------- 🔔 Subscribe & Stay Connected 👉 Interested in appearing on the podcast or partnering? Reach out directly via email to Kareem Rae: kr@onesoccernation.com One Soccer Nation Website: https://www.onesoccernation.com/ ------------------------------------------------- © 2025 One Soccer Nation, under exclusive license to One Soccer Nation LLC. ------------------------------------------------- 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. Investment opportunities are offered through One Soccer Nation LLC. 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. The terms of any product, service, or particular investment opportunity, including size, costs, and other characteristics, are set forth in the applicable constituent documents for such product, service or particular investment opportunity and may differ materially from those presented in this presentation. Such terms are subject to change without notice. Quotes included in these materials related to One Soccer Nation’s services should not be construed in any way as an endorsement of One Soccer Nation's advice, analysis, or other service rendered to its clients/investors.

Rod Underwood - Decoding Success in Soccer: Leadership, Sustainability, and Innovation

In this episode of The One Soccer Nation Podcast, host Kareem Rae sits down with Rod Underwood, a seasoned leader in global soccer with experience spanning the Portland Timbers, Sacramento Republic, Montego Bay United, and Chattanooga FC. With decades of experience as a head coach, technical director, and academy architect, Rod shares a deep, practical perspective on what it truly takes to build sustainable, high-performing football clubs across different markets. This is a decision-grade conversation focused on leadership, infrastructure, and long-term club development. Key Topics Covered: * How Rod Underwood got started in the game and witnessed soccer’s evolution in the United States * Leadership principles that translate across clubs, cultures, and levels * Why emotional intelligence is the most important skill for modern leaders * Building a fully integrated club model across technical and business operations * Lessons from launching and scaling academies with a clear youth-to-pro pathway * How player development connects directly to business outcomes and revenue * The role of data in modern football and where clubs often misuse it * What investors, owners, and operators must prioritize to build sustainable clubs * Why community, culture, and infrastructure drive long-term success This episode is built for investors, operators, and decision-makers looking to understand how professional soccer clubs are actually structured, financed, and scaled. ------------------------------------------------- 🔔 Subscribe & Stay Connected 👉 Interested in appearing on the podcast or partnering? Reach out directly via email to Kareem Rae: kr@onesoccernation.com One Soccer Nation Website: https://www.onesoccernation.com/ [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqa1RQdERUbmM2N2QxamhWeTZrcjI5cjNOcUVnd3xBQ3Jtc0trUHNqWkxIZ0prY0pmODFnTHAwaUVPR3lWSmZpOFdRRTBtUjhNZ1FlVTZXckJqY0F5SUs1eXJwZGlQUDNUVHFreEVCOHJVaGpDZWdUWWdPcHNPRU42SlduX21hTTdOWGNqZjZ3ZUpMRFhPaTBqQThSdw&q=https%3A%2F%2Fwww.onesoccernation.com%2F&v=V7odXqR4hrA] ------------------------------------------------- © 2025 One Soccer Nation, under exclusive license to One Soccer Nation LLC. ------------------------------------------------- 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. Investment opportunities are offered through One Soccer Nation LLC. 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. The terms of any product, service, or particular investment opportunity, including size, costs, and other characteristics, are set forth in the applicable constituent documents for such product, service or particular investment opportunity and may differ materially from those presented in this presentation. Such terms are subject to change without notice. Quotes included in these materials related to One Soccer Nation’s services should not be construed in any way as an endorsement of One Soccer Nation's advice, analysis, or other service rendered to its clients/investors.