majority of voting rights transferred
TSG 1899 Hoffenheim has also formally returned to the “50+1” rule in professional football. The transfer of the majority of voting rights from patron Dietmar Hopp to the club has been completed following the approval of the German Football League, the Bundesliga club announced on Wednesday. After the tax office, the DFL has now also accepted the amended shareholders’ agreement.
This means that the exemption that has been in effect since July 1, 2015 has been repealed. The regulation, which only applies to German professional football, basically states that the majority of decisions when investors become involved must always remain with the parent club. This is intended to prevent clubs – such as those in England – from being completely controlled by investors. There are currently only two Bundesliga clubs with special status outside the “50+1” rule: Bayer 04 Leverkusen and VfL Wolfsburg.
In the summer, the Federal Cartel Office presented a proposal for the requested change to the DFL’s “50+1” rule. With the new version, Leverkusen and Wolfsburg will receive grandfathering under certain conditions, but no other clubs will be able to use this regulation.
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Hopp, who has invested a mid-three-digit million sum in the club over the years, received the majority of votes from the Kraichgauer team on July 1, 2015, thanks to an exemption granted by the DFL. Since then, the 83-year-old has also had 96 percent of the votes thanks to his million-dollar deposit, through which he held 96 percent of the shares in the GmbH.
Hopp’s majority of voting rights within TSG Hoffenheim had also been transferred back to the parent club. “I am relieved that all requirements have now been met and the changes have been made. This marks the end of a chapter in TSG’s history that has largely brought distrust and hostility to the club and me,” said Hopp and added: “I know that the 50+1 rule, which I have always supported and in whose spirit I “I have always acted, represents a valuable asset in German football.”
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