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Ok, to save both is very simple. When your saving your second franchise you have to go under 'Settings' then 'Save Franchise'. You'll then move over to the right and click on 'New...'. You can then name your franchise whatever you want and that is how you save multiple franchise. After doing that you can just press L3 to automatically save. Once you do this go to the 'Load Franchise' screen both franchise saves should appear there.
