DFL investor entry failed for the time being: German professional football is being put to the test

Statement from Watzke

The investor deal for the German Football League has fallen through for the time being. At an extraordinary meeting in Frankfurt am Main, the Presidium of the DFL unanimously decided not to continue the process of concluding a marketing partnership, according to a statement.

Hans-Joachim Watzke, BVB boss and spokesman for the DFL executive committee, explained: “In view of current developments, a successful continuation of the process no longer seems possible. 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 test that is taking place not only within the league association between the clubs, but also partly within the clubs between professionals, coaches, club managers, supervisory bodies, general meetings and so on Fan communities are causing major disputes, which are increasingly jeopardizing game operations, specific game progressions and thus the integrity of the competition. The viability of a successful conclusion of a contract in terms of financing the 36 clubs can no longer be guaranteed given the circumstances in the league association with its 36 member clubs.”

Watzke continued: “The presidium has also come to the conclusion, after assessing all legal aspects, that any further votes would not bring about a solution to the problem. The starting point is the vote on December 11, 2023, which resulted in a 2/3 majority for a final mandate from the Presidium. This vote is viewed as legally valid within the executive committee and according to the assessment of the lawyers. Nevertheless, it should not be overlooked that this vote lacks 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. However, any new vote with the aim of establishing this acceptance through a resolution would raise further legal questions regarding the assessment of the legally effective decision made in December 2023, which was not questioned or contested by any club at the time, which would pose the risk of new legal questions or even disputes would entail. Avoiding this and returning to orderly game operations must be the DFL’s primary goal.”

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The 64-year-old explained: “The Presidium has therefore unanimously come to the conclusion that, based on the resolution of December 11, 2023, it should exercise its final discretion not to continue the process or bring it to a conclusion. The DFL Presidium and the management will invite you to club discussions in the next few weeks in order to discuss conclusions from the process together.”

DFL investor question: Fan protests overshadow Bundesliga games

The decision was preceded by weeks of protests from fans and increasing demands from Bundesliga clubs for a new vote. The DFL wanted to collect one billion euros from a financial investor for a percentage share of the TV revenue. The only remaining applicant was the company CVC, with which the DFL leadership recently held discussions. The US company Blackstone had previously withdrawn from the negotiations; before that, the number of applicants had been gradually reduced.

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 first and second divisions.

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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