In recent news, a potential investor deal in the German Bundesliga and 2. Bundesliga has faced significant opposition from fans. The Deutsche Fußball Liga (DFL), the governing body of German professional football, had planned to negotiate a deal with a potential investor to buy a minority stake in a yet-to-be-founded media company. However, since the clubs voted in favor of the agreement, fans supporting the 36 teams across both divisions have been protesting against it.
The main issue concerning the fans is how the vote for the agreement came about. Anonymous fan groups have alleged that the decisive vote, which achieved a two-thirds majority, was cast by Hannover 96 CEO Martin Kind. Interestingly, although Hannover 96 voted against the deal, the club president had instructed Kind to do the same. Kind has not revealed how he voted, but from a legal standpoint, it is irrelevant as his vote as a legal representative of the club is binding. Any consequences resulting from this vote will be dealt with internally by the 2. Bundesliga club.
For some fan groups in Germany, Kind's potential decisive vote has raised concerns about a violation of the 50+1 principle. This principle ensures that clubs maintain majority control over their decision-making process and prevents external investors from gaining too much control. Subsequently, fan protests have disrupted games and nearly caused some matches to be called off during the last two matchdays.
These fan protests have now directly impacted the negotiations between the DFL and the interested investors, Blackstone and CVC. It was reported on Tuesday that Blackstone has withdrawn from negotiations due to the fan protests and the uncertainty surrounding the feasibility of the potential deal. The DFL confirmed this report, stating that Blackstone is no longer considered a marketing partner for the Bundesliga and 2. Bundesliga. The DFL cited various critical points discovered during the due diligence phase as the reason for the breakdown in negotiations.
As a result, only CVC, a Luxembourg-based company, remains as a potential partner for the DFL. The DFL board and executive leadership will continue to exclusively work with CVC and strive to achieve a favorable outcome within the framework approved by the clubs. However, given the ongoing fan protests and widespread opposition among German football fans, the feasibility of such a deal is uncertain.
A report by DW highlighted that the majority of German football fans vehemently oppose an investor buying a minority stake in a media company yet to be established. With fans remaining strongly opposed to the idea, the likelihood of continued fan protests during the DFL's negotiations with CVC is high. Some decision-makers have even proposed a re-vote, and now, with Blackstone stepping away, there is significant doubt about whether the DFL can successfully finalize a deal.
The situation surrounding this potential investor deal in German football remains fluid. It will be interesting to see how the DFL and CVC navigate through the challenges posed by the fan protests and whether a satisfactory outcome can be reached. Fans continue to make their voices heard, highlighting the deep-rooted attachment they have to the principles and traditions of the German football system.
