The planned investor deal in the German Bundesliga has failed.
The executive board of the umbrella organization of the 36 professional clubs unanimously decided at an extraordinary meeting in Frankfurt on Wednesday not to continue negotiations to conclude the billion-dollar deal. Those responsible actually wanted to complete the controversial deal in the coming weeks.
Parts of the fan scene had recently massively opposed the plans. First and second division games were repeatedly on the verge of being canceled because tennis balls and other objects were thrown onto the field. As it now turns out, the fan protests were successful.
“Original test” for German football
“In view of current developments, a successful continuation of the process no longer seems possible,” said Hans-Joachim Watzke, spokesman for the DFL Presidium, in an initial statement.
“Even if there is a large majority in favor of the entrepreneurial necessity of the strategic partnership: German professional football is in the midst of a breaking point,” says Watzke. The disputes of the last few weeks have “endangered with increasing vehemence the game operations, specific game processes and thus the integrity of the competition.”
With the private equity company CVC, only one potential financier was willing to get involved. But this will not happen: “The viability of a successful contract conclusion [..] can no longer be guaranteed given the circumstances,” explains Watzke.
The “big money” stopped
The various fan groups thus retained the upper hand in the power struggle. The Faszination Fankurve alliance stated that the protests were now crowned with success. The citizens’ movement Finanzwende, which recently started a petition, spoke of good news for all football fans.
“Public pressure from civil society can also stop big money. For us, this is a reason to be happy,” said managing director Daniel Mittler in a statement. Some league clubs such as VfB Stuttgart and Hertha BSC were also pleased and expressed this in statements.
The DFL wanted to collect one billion euros from a financial investor for a percentage share of the TV revenue; such a model will now not exist. “This process has been shelved. We now have to start all over again,” said Watzke, also with a view to better marketing the league abroad.
Watzke describes 50+1 as a “great good”
When the 36 professional clubs voted on the deal in December last year, the necessary two-thirds majority was only barely achieved. Due to the controversial role of Hanover managing director Martin Kind, there is suspicion that the vote could have violated the 50+1 rule. The rule limits the influence of external donors on clubs in the 1st and 2nd leagues.
Watzke now stated that it should not be overlooked that this vote lacked broad acceptance due to the events surrounding Hannover 96. “Given the great asset we hold in our hands with the 50+1 rule, ignoring this should not be our approach. The DFL Presidium is unanimous in its support of the 50+1 rule.”
Any new vote would raise further legal questions about the assessment of the decision made in December, Watzke added. “Avoiding this and returning to orderly game operations must be the DFL’s primary goal.”
Hanover’s club management had instructed Kind to vote against the investor’s entry. However, the voting results and the public confessions of those opposing the proposal suggest that the 79-year-old voted yes and thus helped the DFL plan gain the necessary majority. Child himself does not comment on his vote.
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2024-02-21 18:25:00
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