TSG 1899 Hoffenheim finally a 50+1 club again
TSG 1899 Hoffenheim has also formally returned to the 50+1 rule in professional soccer. The transfer of the majority of voting rights from patron Dietmar Hopp to the club has been completed following the approval of the German Football League, the Bundesliga club announced on Wednesday. After the tax office, the DFL has now also accepted the amended shareholder agreement.
This means that the exemption in force since July 1, 2015 has been lifted. The regulation, which only applies in German professional soccer, stipulates in principle that the majority decision in the case of an investor entry must always remain with the parent club. This is intended to prevent clubs from being completely controlled by investors, as is the case in England, for example.
There are currently only two Bundesliga clubs with a special status outside of the 50+1 rule - Bayer Leverkusen and VfL Wolfsburg. In the summer, the Federal Cartel Office submitted a proposal to the DFL for the required change to the 50+1 rule. Under the new version, Leverkusen and Wolfsburg would be protected under certain conditions, but no other clubs would be able to use this rule.
Hopp, who has invested a mid-triple-digit million sum in the club over the years, obtained the majority of votes in the Kraichgau club on July 1, 2015 thanks to an exemption granted by the DFL. Since then, the 83-year-old has also held 96% of the votes thanks to his million-euro investment, which gave him 96% of the shares in the GmbH.
Hopp's voting majority was also transferred back to the parent club within TSG Hoffenheim. "I am relieved that all requirements have now been met and the changes have been completed. This brings to an end a chapter in TSG's history that has brought the club and myself a great deal of mistrust and hostility," said Hopp in the TSG statement, adding: "I know that the 50+1 rule, which I have always supported and acted in accordance with, is a valuable asset in German soccer."
TSG 1899 Hoffenheim, now adhering to the 50+1 rule in Bundesliga, aims to maintain control over its decisions, preventing complete investor control like in English soccer clubs. Dietmar Hopp, who previously held a majority of votes due to an exemption from the DFL, has transferred his voting majority back to the parent club within TSG Hoffenheim.
Source: www.dpa.com
