HMCO vs. Traditional MCO: What’s the Real Difference?

In football, ownership models matter more than ever. As clubs around the world face growing financial pressures and rising competitive standards, how they’re structured, and who they partner with, can define their future.

Two of the most discussed models today are Multi-Club Ownership (MCO) and the emerging, more progressive Horizontal Multi-Club Ownership (HMCO). While they may sound similar, the difference between them is more than semantic. It’s philosophical, operational, and transformational.

Let’s break down what sets them apart.

Traditional MCO: A Hierarchy of Control

The conventional MCO model resembles a corporate hierarchy or pyramid. One dominant "flagship" club typically sits at the top, often a globally recognised team in a top-tier league,  while the remaining clubs are positioned below in subordinate roles.

These secondary clubs usually serve as:

• Feeder teams for player development
• Talent pipelines with limited autonomy
• Brand extension tools for the top club’s global ambitions

While MCOs can offer efficiencies in scouting, recruitment, and marketing, the benefits are often unevenly distributed. Smaller clubs in the group tend to be seen as assets to support the flagship rather than independent entities with their own potential and ambitions.

Key Characteristics:

• Hierarchical control
• Centralised decision-making
• Unequal resource distribution
• Often top-down talent movement
• Singular brand dominance

HMCO: A Network of Equals

Horizontal Multi-Club Ownership (HMCO) is a new paradigm.  One that challenges the top-down model and replaces hierarchy with collaboration.

Rather than positioning one club as superior, HMCO creates a flat, decentralised network where all clubs operate as equal partners. Each retains its local identity, autonomy, and strategic direction while reaping the benefits of being part of a larger, integrated ecosystem.

This model is based on the belief that clubs are stronger when they work together rather than when they compete internally.

Defining Features of HMCO:

• Non-hierarchical structure with no “main” club
• Shared resources, tools, and best practices
• Aligned development philosophies across clubs
• Platform-driven commercial opportunities
• Financial resilience through collective investment
• Cultural preservation with local fanbases at the core

Why HMCO is a Game-Changer

The real innovation of HMCO lies in its ability to combine scale with individuality. Clubs stay rooted in their communities, but gain access to the knowledge, capital, and operational excellence typically reserved for elite institutions.

It’s a model that enables:

• Scouting collaboration without sacrificing identity
• Smarter investments across regions and development stages
• Unified commercial narratives that resonate globally
• Long-term sustainability rather than short-term exploitation

In contrast to the MCO model, which too often replicates the pitfalls of corporate consolidation, HMCO empowers clubs. It doesn’t consume them.

One Philosophy, Many Identities

At the heart of HMCO is a simple yet powerful belief: football is better when we build together. By uniting clubs across countries, leagues, and maturity levels under a shared vision, but without diluting their essence, HMCO is redefining what it means to own and operate football institutions.

It’s not about domination. It’s about cooperation. Not about uniformity. But unity. Not about hierarchy. But horizontally.

Conclusion

As football looks toward a future shaped by financial innovation, globalization, and changing fan expectations, ownership models will continue to evolve. But not all models are created equal.

HMCO offers a bold, values-driven alternative to the traditional MCO structure. It prioritises community, sustainability, and collaboration.

And in today’s game, that’s the kind of transformation football truly needs.