Football investors face gruelling second half
足球投资新局：豪门盛宴还是资本陷阱？

Firms that got in early enough made some quick gains, new arrivals will need to play for longer
阿波罗25亿欧元收购马竞标志着资本加速涌入欧洲足坛。早期投资者已获回报，但新入场者面临估值高企、转播收入见顶等挑战，需通过房地产等长期项目寻找新增长点。