DFL Deutsche Fussball Liga, the governing body for German professional football, is making a third bid to strike a deal to sell a stake in Bundesliga media rights to private equity firms for up to €1bn, according to a report by Bloomberg.
The report cites the governing body as confirming that the 36 clubs in the country’s top two divisions are set to hold a vote in mid-December on whether to proceed with an auction after a previous proposal in May failed to secure the required two-thirds majority from the clubs.
Last time around, buyout firms CVC Capital Partners, Blackstone Inc, and Advent International were all reported to be interested in paying as much as €1.85bn to secure a 12.5% stake in the subsidiary that holds the Bundesliga’s broadcasting rights.
This time, they are likely to be asked how big a stake they would want for a payment of up to €1bn in a ‘reverse’ auction, according to unnamed Bloomberg sources, with 10% likely to be the highest stake available.
