Playing FM over a network

I have a great PC, my friend doesn't. This means when he hosts he selects only a few leagues with a medium database. If I host a game, will I be able to select loads of leagues and his speed will be fine? As in, will the game process on my PC or does it process on the both of ours?

Ive not played online for quite a few years but the host computer always did the processing in the past. So if you host, you should be able to have a faster game.