Clubs approved the process, then fan protests stopped it.
What happened
In February 2024 the German league's executive committee ended its process to bring in an investor. The plan was to sell 8% of a new media rights subsidiary for up to 20 years, for up to about €1bn.
How it was structured
Clubs had approved the process in December 2023 by the two-thirds majority required. Blackstone then withdrew, leaving CVC as the remaining bidder, while organised fan protests repeatedly disrupted matches.
Our review
A successful vote does not always equal a deliverable deal. In football, the consent of supporters and clubs is a real execution risk, and it needs to be priced alongside the legal and financial terms.
Sources
Not RMF transactions, just general football and sports transactions. Figures are as publicly reported, and reports sometimes differ. General market commentary, not investment, legal or financial advice.