Gareth Bale is building something after football — and Cardiff City is still part of the plan, even if he won't say it outright.
The former Real Madrid and Tottenham winger has launched a sports investment fund called Juggernaut Diversified Sports, in partnership with private-equity firm Juggernaut Capital Partners and its founder John Shulman. The fund will target teams and leagues across men's and women's sports, with a geographic focus on North America and Europe. Shulman confirmed it'll come in under $1 billion — deliberately positioned against the megafunds that buy tiny stakes in overvalued franchises and call it a strategy.
Cardiff: not off the table, not exactly on it either
Bale has been circling Cardiff City for a while now. A second offer was submitted last summer after an initial bid — reportedly worth around £40 million — was rejected by current owner Vincent Tan. As of April, that offer was still sitting unanswered. Tan hasn't responded. Bale hasn't walked away.
When pushed on whether a fresh bid is coming, Bale was careful. "It's about being patient, finding the right club, and the right path for us to take," he said. "That doesn't mean Cardiff is off the table."
He's a Cardiff native. He knows what the club means. But he also acknowledged that he and Shulman need to assess any acquisition as a business, not just a homecoming story. "There's those heartstrings that pull there," he admitted — which is honest, at least.
The timing matters here. Cardiff were relegated from the Championship this past season and now sit in League One, the third tier of English football. That changes the financial calculus significantly. A lower valuation might actually make a deal more viable, but it also means whoever buys Cardiff is taking on a rebuild, not a platform.
The fund has broader ambitions
Cardiff aside, Juggernaut Diversified Sports has real scope. The fund will cover youth sports — Juggernaut already holds a stake in 3 Step, which owns and manages youth teams — and has been active in women's sport investing, with money already in recreational volleyball, basketball, and lacrosse. Shulman says they're "within about 60 days" of making their first investment in a professional women's sports team, though he wouldn't name the club.
Bale's playing career ended in 2023 after a stint with LAFC in MLS. Five Champions League titles, three LaLiga titles, a career defined by moments that still get replayed. Now he's on the other side of the table — and on Monday, he and Shulman are meeting with the owner of a European football club that isn't Cardiff.
Whether that meeting leads anywhere, or whether Tan eventually picks up the phone, the fund gives Bale options he didn't have before. He doesn't need Cardiff to say yes right now. He can wait.
