Three drivers behind German clubs’ flirt with private equity groups: Execution needed in rare “window of opportunity”; Seifert’s last important move before exit and clubs preparing for 2021 nightmare

Observers see the potential sale of international rights to private equity funds as a crucial closing act for Christian Seifert. His legacy could be damaged if he doesn’t succeed in opening German football up to foreign investors.

Earlier on, DFL tried to pitch a partnership to private equity funds but was turned down due to the controversial 50+1 rule. Now an opportunity has suddenly arisen and German clubs might need to act on it.

Most executives in German football remain sceptical that they will get fans back to stadiums in 2021, so they are preparing for another year with serious pressure on finances.

Private equity partnership could secure the continued building of a global business case around German football – and at the same time provide liquidity to aid clubs if necessary.

Processes with a number of bidders are ongoing, and a deal is expected to be closed in May. The most likely scenario is a deal with a single private equity fund.