by Lars Winter, Euro on Sunday
One option is to sell a 20 percent stake in a new vehicle that would hold the broadcasting rights for Germany and abroad and is to be valued at a total of around 18 billion euros. According to reports, there are plenty of interested parties for the DFL rights – international investors such as Advent, Blackstone, CVC Capital, EQT and KKR are mentioned. A partial sale of the media rights could flush the coffers of the DFL and thus the clubs in the first and second Bundesliga over 3.5 billion euros. Many clubs also urgently need a cash injection, because the financial situation of some highly indebted clubs has deteriorated further due to the Corona crisis and rising interest rates.
Also the listed district club Borussia Dortmund the partial sale of the DFL rights could bring in millions. BVB did significantly better in the 2021/22 financial year (as of June 30) than in the previous year and more than halved the losses, but the bottom line was that BVB was still in the doldrums at around 35 million euros. But Dortmund are now cautiously optimistic. According to managing director Hans-Joachim Watzke, all home games up until the World Cup in Qatar are sold out. By the 2023/24 financial year at the latest, BVB should be back in the black – and thus also create the conditions for dividend payments. A sale of rights by the DFL could possibly accelerate the project. We advise speculative buying of BVB shares.
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