German clubs opposed to seeking investor
The German professional clubs opposed the search for an investor desired by the management of the League (DFL). Only 20 of the 36 German First and Second Division clubs voted…
The German professional clubs opposed the search for an investor desired by the management of the League (DFL). Only 20 of the 36 German First and Second Division clubs voted in favor of this search for investors. To open discussions, two-thirds had to be in favor.
” The project is abandoned today. It’s democracy “Said Hans-Joachim Watzke, chairman of the board of the DFL, who considered the project vital for the competitiveness of German professional football.
A two billion euro project criticized by supporters
The DFL wanted to find an investor capable of injecting two billion euros into German professional football: 750 million for marketing and the creation of a streaming platform, 300 million for the clubs and the rest in investments.
In return, the German league would have created a subsidiary into which all income from television rights in Germany and abroad would have been paid, and in which the investor would have held 12.5% of the shares.
The plan was heavily criticized by supporter groups from most clubs and a petition with 9,000 signatures was presented at the DFL meeting.