Sports News | German Soccer League Approves Plan to Sell Share of TV Rights to Investor Despite Fan Protests
Get latest articles and stories on Sports at LatestLY. German soccer clubs voted Monday to approve a plan to sell a share of its broadcast revenues to an outside investor, a plan which is bitterly opposed by many fans.
Frankfurt, Dec 11 (AP) German soccer clubs voted Monday to approve a plan to sell a share of its broadcast revenues to an outside investor, a plan which is bitterly opposed by many fans.
The so-called "strategic marketing partnership" would involve selling a share of revenues — German media reports have estimated around 8 per cent over 20 years — to an investment firm. German fans are strongly opposed to any outside commercial influence on the league and have been protesting with banners at games for months.
The league's co-chief executive Marc Lenz said that 24 of the 36 teams in the men's first and second divisions voted for the plan, with 10 against and two abstaining. That meant it only just reached the needed two-thirds majority of clubs. Even so, Lenz said it was "a very good basis for us to be able to act."
Lenz said the league will now start detailed talks with possible partners and would aim for a decision by the end of March.
League officials argued the deal would allow it to modernize how the competitions are marketed, especially to foreign audiences, and adapt to a market increasingly focused on streaming services. They said investors will not get a say over league matters like kickoff times and won't be able to push for German league games to be played outside of the country.
The deal was presented as a more limited version of a plan which failed to pass in May. That was for a 12.5 per cent share of domestic and international TV rights over 20 years. It got 20 of 36 votes, short of the needed two-thirds majority.
Hans-Joachim Watzke, chairman of the supervisory board of the league, said at the time that the "topic is closed from today."
Just three months later, he heralded its return in a modified form when he called for a "revised and redesigned" version of the project. AP
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