The offer launched by a group of investors to participate, through a subsidiary of the German League (DFL), in the television rights of German soccer failed to obtain the support of the required two-thirds majority among the 36 professional country clubs, which make up the first and second divisions of the Bundesliga.
The initiative got the support of 20 clubs, instead of the 24 it needed to carry out the proposal.
The failure was considered a defeat for the most powerful clubs in the first division and especially for the CEO of Borussia Dortmund and the DFL board of directors, Hans Joachim Watzkewho supported the initiative.
The opposition came mainly from the more moderate clubs in the second division, which endorsed the rejection of the fans’ associations and other sectors critical of the entry of investment funds.
Losing big clubs
The big Bundesliga clubs sought to achieve an infusion of fresh operating capital, up to 2,000 million euros, by acquiring 12% of the subsidiary that manages those rights.
Moderate clubs and various fan organizations argued that this would contribute to a greater commercialization of football.
CVC, to stakeholders
The plan envisages opening partial access to football audiovisual rights through a DFL subsidiary, MediaCo.
Initially, six investor groups showed interest in the operation, which was later reduced to three -Blackstone, Advent and CVC- to finally see the option fail due to the lack of support they needed.
Source: La Verdad
I’m Rose Herman and I work as an author for Today Times Live. My expertise lies in writing about sports, a passion of mine that has been with me since childhood. As part of my job, I provide comprehensive coverage on everything from football to tennis to golf.
