Media: Also because of fan protests
Investor Blackstone surprisingly leaves the DFL hanging
February 13, 2024, 9:32 p.m
According to a report by the Bloomberg news agency, the US financial investor Blackstone is withdrawing from the bidding process for the media rights of the Bundesliga. Two reasons are given. That would be a serious setback for the DFL.
Setback for the German Football League: Blackstone is surprisingly no longer available for a strategic marketing partnership. The DFL announced this at the request of the sports information service. After the financial company’s withdrawal, CVC is the only remaining interested party. The Bloomberg news agency had previously reported on the exit and cited the massive fan protests and the hesitant behavior of the Bundesliga clubs as reasons.
“We confirm that, after good discussions, Blackstone is no longer considered as a strategic marketing partner for the Bundesliga and 2nd Bundesliga for various reasons. The DFL and the clubs were always aware that the key points and red lines adopted in December placed high demands on potential partners be made,” said the DFL statement. The DFL did not want to go into details. However, the further process will “continue with CVC according to the planned schedule”.
Blackstone was also criticized for an old, controversial statement by Stephen Schwarzman. Ten years ago, the CEO compared President Barack Obama’s proposed tax increases to Adolf Hitler’s invasion of Poland. Although he apologized, the comment resurfaced in the current debate.
Blackstone had offered around one billion euros
The DFL reduced the number to two candidates in January. The financial investors want to acquire shares for 20 years in a DFL subsidiary to which all media rights are outsourced. The plan is for a partner to have a minority stake of a maximum of eight percent. Blackstone had offered around one billion euros for the stake. The contract with the strategic marketing partner should be concluded before the national TV rights are put out to tender. The auction is scheduled for mid-April.
Last December, 24 of the 36 professional clubs voted yes in the vote on the entry of an investor. The necessary two-thirds majority was therefore just achieved. Martin Kind played a central role. The managing director of Hannover 96’s professional department is said to have voted for it, contrary to his club’s instructions. Without Kind’s vote, the deal would have failed.
DFL executive board member Axel Hellmann rejected the demands of the active fan scene for a new vote on the investor question after numerous protests. The fan protests are massive. On Saturday, the match between Union Berlin and VfL Wolfsburg (1-0) was about to be canceled.