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German soccer fans have done their best to fight this issue, often in the literal sense. At various points over the past few weeks, they have rained down tennis balls to protest concerns about private equity giants taking a stake in the nation’s leagues. Chocolate coins and even marbles fall in fields across the country.
The demonstrations forced the postponement of the match, embarrassed authorities and may have helped persuade the world’s biggest financial companies not to pursue a deal. However, it was thanks to advances in technology that the ultimate victory was ensured. The league collapsed when remote control cars were deployed, spewing smoke and the game was suspended again.
The settlement took place at an emergency board meeting, with the league’s constituent clubs negotiating with Luxembourg-registered private equity firm CVC Capital Partners over a deal that would provide teams with a $1 billion cash injection in exchange for a portion of the deal. resolved to abandon negotiations. of the league’s broadcast revenue over the next 20 years.
Hans-Joachim Watzke, president of the league’s supervisory board, said on Wednesday: “Given the current developments, it no longer seems possible to continue the process successfully.”
The vote was a comprehensive (albeit increasingly rare) victory for fan interests at a time when it has become clear that the sports world cannot resist the lure of deep-pocketed investors. Their victory somehow seemed even more remarkable as supporters of dozens of German soccer clubs appeared to win the argument with a combination of anger and wit.
CVC Partners has signed agreements similar to Germany’s proposal with a number of teams and tournaments in recent years. The company already has stakes in La Liga, Spain’s elite soccer league, Ligue 1, its French equivalent, as well as the WTA Tour and the prestigious Six Nations rugby competition.
The DFL, which oversees German soccer’s top two divisions, had originally passed a similar resolution in December, under which the league would investigate a “strategic partnership” with either CVC or Blackstone, one of the world’s top leagues. The motion to approve was supported by a narrow margin. The largest private equity fund. Blackstone withdrew from the process earlier this month, leaving CVC as the only candidate.
The turning point in Germany’s investment proposal came on Sunday, when a consensus was reached and two radio-controlled cars were released during a second-division match between Hansa Rostock and Hamburg. Each had a smoke grenade attached to their back, sending blue and white smoke into the air. The match was suspended for several minutes while stewards attempted to track down the car.
By then, Watzke said, the protests and subsequent unrest had called into question “the game-day management, the game itself, the integrity of the competition.”
Even indirect private investment has proven to be a harmful prospect in a league where clubs must by law be majority controlled by fans.
Immediately after news became public in December that the league intended to seek a deal, protests erupted as fans made it clear they did not want to follow the path set by the English Premier League, which buys and sells clubs for oil. did. Bigwigs, venture capitalists, and nation-states.
Some games began in an eerie silence, with fans refraining from cheering. Some saw banners unfurled in the stands outlining the fans’ position, often with explicit language. Various objects were thrown onto the field to disrupt play.
Thomas Kessen, a spokesperson for the umbrella group Unsere Kurve, which represents fans, said the protests were “inclusive, creative and peaceful.”
In the end, the protests proved so frequent and passionate that the DFL had little choice but to retreat.
“For all active football fans and all club members, this is a great success that shows that German football is member-based and democratic,” Kessen said. “These are the very members who must be involved in groundbreaking decisions like this.”
Melissa Eddy contributed reporting.
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