The German Football League is advancing further on its developing effort to sell part of its media rights to private investors for as much as $1.1 billion, reportedly inviting five suitors to submit bids.
The governing body of German professional soccer has informed the 36 clubs in the top two divisions that potential strategic partners being considered are Advent International, Blackstone, Bridgepoint, CVC Capital Partners, and EQT, according to Reuters.
At least four of these entities are expected to submit preliminary bids by early December. A general meeting is scheduled for Dec. 11, during which clubs are expected to vote on whether to hold an auction for the rights. A two-thirds majority is required to continue.
The latest plan is designed to help bring in outside investors and much-needed cash, particularly as the DFL attempts to keep up with heightened competition from European powerhouses such as the Premier League and La Liga. To that end, the DFL letter to the clubs discusses “securing the sporting and economic competitive position of the federal leagues.”
This is the third attempt to sell part of the DFL media rights to private equity, and several of the firms being considered, including CVC, Blackstone, and Advent, previously showed interest in investing. A prior effort in May failed to win sufficient support, and the DFL discontinued a similar initiative in 2021.
The latest attempt is said to be structured as a reverse auction in which private equity firms would be asked how big an equity stake they would seek in return for the investment up to $1.1 billion — with the likely condition that stake remains below 10%.
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