Football clubs, for long the loss-making playthings of businessmen, oligarchs and Middle Eastern royalty, are increasingly attracting interest from another type of investor, one better acquainted with profits than the Premier League – the private equity firm.

In late August, it emerged that a consortium led by state-controlled financial services company China Everbright and private equity firm PCP Capital Partners had lined up an £800 million bid for Liverpool FC, one of the England's most high-profile clubs.