Stephen Duval

4 January 2022 - 2:14 PM



23 Capital co-founder is back in football finance: Unfathomable amounts of money lie in the game’s digital future

  • 23 Capital co-founder Stephen Duval is back in football finance – a year after parting ways from his partner Jason Traub and their $1 billion loan book.
  • Duval says that his new alternative lending vehicle, Empowerment, has found a position between private equity groups, who take “a pound of flesh”, and traditional banks, which are focussed on inflexible lending terms.
  • He believes that football is on the cusp of another tidal wave of revenue generation.
  • Commercialisation of athletes themselves will also be a big growth area in the future, he thinks.

They were known as one of the most aggressive lenders in the football industry. In just a few years 23 Capital co-founders Stephen Duval and Jason Traub built up a $1 billion loan book and were backed by the likes of George Soros.

But then hit the pandemic. And in September 2020 the news hit that 23 Capital, which has helped to finance some of the biggest transfers in football, including Barcelona’s signing of Antoine Griezmann and Atletico Mad

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