Women’s MCO Crux Football targets England, Spain and Germany as valuations surge in English market
IMAGO | Bex Smith, Founder and CEO of Crux Football, is leading a new investor-driven push into European women’s football through a dedicated multi-club ownership platform.
The Recap
Crux Football founder and CEO Bex Smith outlines the group’s plan to build a five-club European women’s MCO following acquisitions of Montpellier and FC Rosengård, with England emerging as the most expensive and time-sensitive market.
Data Insight
A wave of transactions has reshaped the English women’s market, with clubs transferring their women’s teams to existing owners before selling minority stakes - most notably Chelsea Women at a €240 million valuation and Aston Villa at €62.7 million.
Why It Matters
England is viewed as the most commercially advanced but also the most expensive market, prompting Crux to prioritise lower entry valuations to preserve capital for operational investment and long-term value creation.
The Perspective
The strategy underscores a broader shift towards multi-club ownership structures in women’s football, as investors pursue scale, shared infrastructure and economies of scale to drive sustainable growth.
4 March 2026 - 2:03 PM
England has emerged as the most attractive, and most expensive, market in European women’s football, a reality shaping the next phase of Crux Football’s expansion strategy.
The investment group, led by Founder and CEO Rebecca “Bex” Smith, is building what it intends to become a five-club European platform dedicated exclusively to women’s football. After acquiring Montpellier HSC Féminines and most recently a 49 per cent stake in Sweden’s FC R
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