DFL confirms German football investor deal is off
Following persistent protests, the DFL has decided not to sell shares to outside investors.
In December, the German Football League (DFL) received the go-ahead from the majority of the 36 clubs in Germany's top two leagues to pursue a multi-billion dollar deal with an outside investor.
However, after weeks of intense protests by German football fans, who have thrown tennis balls and other objects onto pitches to show their discontent, the DFL has now announced that there will be no deal.
"In light of recent developments, it appears that continuing the process successfully is something that is no longer possible. Although there was a significant majority in favor of the necessity of the strategic partnership from a business perspective, German professional football is in the midst of a crucial test of its strength, and this topic has given rise to considerable conflict," said Borussia Dortmund CEO Hans-Joachim Watzke on behalf of the DFL executive committee.
"This was not limited to within the Ligaverband association between the clubs but also, in some cases, within the clubs themselves: between professional players, coaches, club officials, supervisory bodies, members assemblies and fan communities.
"That conflict is increasingly putting match operations, specific matches and thus the integrity of the competition at risk. The viability of a successful contract as regards to financing for the 36 clubs can therefore no longer be assured, given the circumstances."