Soccer - "From our own resources": SC Freiburg votes against DFL investor
SC Freiburg is one of the ten first and second division clubs that voted against the entry of an investor into the German Football League (DFL), which was decided on Monday. As a spokesperson for SC Freiburg confirmed on Tuesday, the South Baden Bundesliga club stuck to its "no" vote in Frankfurt/Main, which it had previously announced in a letter to its members. The club cited lower capital requirements than originally assumed as the reason. In May, the Europa League participant had voted "yes" in an initial vote on the issue.
A financial investor is to pay one billion euros for a percentage share of the TV revenue. The contract is to have a maximum term of 20 years and be signed by the start of the 2024/25 season. The DFL intends to use the money primarily to expand its infrastructure. This includes further digitalization and internationalization as well as the development of its own streaming platform.
"A model that has now been revised by the DFL (...) provides for a number of changes and assumes a significantly reduced capital requirement. Whether this is sufficient cannot be conclusively assessed as of today," the SC had written to its members. "In any case, however, it leads to a different assessment of SC Freiburg, as we are convinced that the significantly reduced investment volume, which will also be spread over several years, should be financed from our own resources (internal financing)." If investments could be made in this way, this should always be preferred to the involvement of a third party.
24 of the 36 professional clubs from the first and second divisions voted in favor of the DFL taking on investors, thereby just about ensuring the necessary two-thirds majority. Ten voted against and two clubs abstained.
SC Freiburg fixture list SC Freiburg squad
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- Despite being one of the clubs from Baden-Württemberg in Germany, SC Freiburg, along with several others, voted against allowing a financial investor to join the Bundesliga, as reported by German media outlets.
- The financial investor, who is reportedly planning to invest one billion euros for a share of the TV revenue, had their proposal rejected by Freiburg fans, who prefer to finance improvements from their own resources.
- The decision by SC Freiburg to oppose this move was due to the lower capital requirements than initially assumed, as stated in a letter to its members, which led to a change in their assessment.
- While 24 professional clubs from the first and second divisions in Frankfurt on the Main voted in favor of the DFL taking on investors, SC Freiburg staunchly opposed this, citing a preference for internal financing.
- The Bundesliga, also known as the DFL, intends to use the funds to expand its infrastructure, including digitization, internationalization, and the development of its own streaming platform, but SC Freiburg believes these improvements can be made through their own resources.
Source: www.stern.de
