Cautious or visionary? We know the German clubs traditionally reluctant to see foreign capital entering their football, inhabited by the idea that the money fallen from the sky is probably not such a good idea in the long term. New illustration this Wednesday, with the rejection of a two billion euro project yet ardently desired by the League because considered vital for the competitiveness of German professional football.
Gathered in General Assembly near Frankfurt, the 36 Bundesliga and second division clubs failed to find a two-thirds majority, necessary for the opening of discussions. Just 20 clubs voted to go ahead with the DFL project, four short of the two-thirds majority needed to continue the process, explained Hans-Joachim Watzke, chairman of the DFL board. “The project is abandoned today. It’s democracy, ”he commented, face closed, at a press conference.
A 20-year partnership
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 according to a free distribution (faithful to the principles of distribution), and the rest in investments.
In return, the German league would have created a subsidiary with a lifespan of more than 20 years, 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. Currently, the broadcasting rights of the German first and second division leagues generate revenues of 1.3 billion euros each season.
The project was strongly criticized by supporter groups of most clubs, the banners “NO to an investor”, have flowered lately in German stadiums, for fear of interference from the chosen investor. A petition with 9,000 signatures was presented at the DFL meeting. Some historic clubs had led the revolt against the management of the DFL, in particular FC Cologne and Sankt-Pauli.