Sports investor dispute
Blackstone no longer wants Bundesliga media rights
Status: 13.02.2024 | Reading time: 2 minutes
Blackstone withdraws from bidding
What: REUTERS
Only the investment company CVC remains. Financial investor Blackstone is withdrawing from bidding for the media rights of the Bundesliga. The DFL still wants to stick to its schedule.
The US financial investor Blackstone is withdrawing from the bidding process for the media rights of the Bundesliga. The German Football League (DFL) confirmed a corresponding report from the Bloomberg news agency upon request late on Tuesday evening. “For various reasons,” the Blackstone company “is no longer considered as a strategic marketing partner for the Bundesliga and 2nd Bundesliga,” said a DFL statement.
The DFL and the clubs were always aware that “the cornerstones and red lines adopted in December place high demands on potential partners,” the statement continued. However, given the ongoing process, “no details” will be discussed. There were “good conversations”.
DFL is hoping for a payment of one billion euros
The DFL also confirmed that only the investment company CVC was the last contender for a percentage stake in a subsidiary to exploit the media rights. “The further process will continue with CVC according to the planned schedule,” it said. The DFL hopes to receive one billion euros from a financial investor to share in the TV revenue.
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Bloomberg had previously reported that Blackstone was also abandoning its plans to join because it was feared that the process would drag on too long due to the hesitation of some clubs. The ongoing protests from fans are also said to have an influence on Blackstone withdrawing.
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The contract with the strategic marketing partner should be concluded before the national TV rights are put out to tender. The auction for this is planned for mid-April. The DFL recently reduced the number of applicants little by little to two companies, now only one of them remains. The active fan scenes have been protesting against the DFL’s plans for months. In a vote by the 36 professional clubs last December, the necessary two-thirds majority was only barely achieved.