Registered owners of top-flight football clubs are rarely the funders. The league's fit-and-proper filings describe the person the league is prepared to acknowledge; the holding structure above them describes the money; and the two disclosures are calibrated to different audiences.
A reader assessing an introduction to the ownership of a serious sporting asset, whether as a co-investor, a debt provider, or a commercial counterparty, needs to read the two disclosures against each other. The league's fit-and-proper regime has a specific and limited purpose. The corporate structure above the acquiring vehicle has a different purpose. The space between them is where the working reality lives.
The Premier League, La Liga, and the German DFL each publish an ownership approval regime with defined disclosures that are narrower than a serious investor's diligence would require. The acquiring vehicle is typically a special-purpose company in a favourable country. The funding arrangements above sit in loan agreements, shareholder agreements, and side letters that are not part of any public filing.
Treat the league filing as one piece of evidence among several, not as the answer. The interesting arrangement is the one designed to satisfy both disclosures while remaining substantively out of view.