The German Football League (DFL) has decided to abandon a billion-euro plan to bring an investor into the league following several fan protests, DFL CEO Hans-Joachim Watzke said.
The DFL executive committee unanimously decided the deal will not take place in an extraordinary meeting on Wednesday.
"In view of current developments, a successful continuation of the process no longer seems possible. Even though there is a large majority in favour of the necessity of a strategic partnership," Watzke said in a press release.
The two-thirds majority of the 36 Bundesliga and second division clubs voted in December to bring in a strategic partner in a billion-euro ($1.08 billion) deal over a maximum 20 years for a share of the licensing revenue from the sale of media rights.
CVC Capital was the only bidder left after last week's withdrawal of fellow private equity firm Blackstone.
Fans, however, feel profit will be put before them and tradition, and they have been protesting for weeks by throwing objects onto the pitch, mostly tennis balls, causing long interruptions of Bundesliga and second division games.
"German professional football is in the midst of a crucial test. The
sustainability of a successful contract conclusion, in terms of financing the 36 clubs, can no longer be guaranteed in view of the circumstances in the association," Watzke said.
There have also been calls recently for a new vote on the matter due to speculation that the 24 votes in favour of the deal were only reached because Hanover managing director and majority share holder Martin Kind voted against club orders and in favour.
This could be in violation of the 50+1 rule in German football, under which the club has the final saying. Kind has refused to disclose how he voted, saying it was a secret ballot.
Watzke recognized that the DFL couldn't deny that the events surrounding the Hanover vote led to a lack of broad acceptance of the result.
"In view of the great asset that we hold in our hands with the 50+1 rule, we must not ignore this," Watzke said.
He added that a new vote would raise further legal questions regarding the decision taken in December.
"Avoiding this and returning to orderly match operations must be the DFL's primary goal," he stressed.
According to a survey, half of the German football fans oppose a strategic partner for DFL and more than 50% consider the ongoing protests against such an investor appropriate.
Sports marketing agency One8y asked 1,006 football interested Germans on February 18 and 19 about the controversial issue, and 46% said they oppose an investor, 33% were in favour of an external partner, and the others either had no opinion or did not want to disclose it.
