According to Hans-Joachim Watzke, the chairman of the German DFL supervisory board, the clubs in the German DFL league were unable to achieve a two-thirds majority in a vote that would have permitted external investors to purchase its media rights.
At a meeting of 36 professional clubs in Frankfurt, there were 20 votes in favor, 11 votes against, and five abstentions in a secret ballot.
The DFL had expected to get approximately 2 billion euros by selling a 12.5% stake in the media marketing of the Bundesliga for at least 20 years. Advent, CVC, and Blackstone were among the potential buyers, as per insiders.
“That’s the end of the topic as of today. That’s democracy,” said Watzke, who is also the head of Borussia Dortmund.
European national leagues are exploring options to increase their revenue and expand their global presence by seeking external funding through broadcasting deals.
However, some people view this as a move towards excessive commercialization of the sport. The Bundesliga is the second-largest league in Europe in terms of revenue, following the Premier League in England.
The DFL started seeking potential bidders informally last year, but disagreements among German clubs caused the former CEO, Donata Hopfen, to resign.
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