Typically it's not investment per se. It's interest-free loans, most of which get written off. I get what you mean, they're not shareholding with a view to "be a shareholder" in the sense of holding a growth stock or a dividend stock. But while many will have grand designs of making their team successful and thus growing the market cap of the company that way, in practice it seldom actually happens. They just loan money, they eventually write it off, and they'll eventually sell to the next guy who wants a crack at turning Queen's Park or Dunfermline into a European powerhouse.