Bundesliga in Talks with Apollo for €1 Billion Loan Backed by Broadcast Revenue
The German Football League (DFL) is negotiating a €1 billion loan with US investment firm Apollo Sports Capital, secured against future domestic broadcast revenue over 20 years. The proposal, discussed in a June meeting in New York, does not involve equity transfer and requires a two-thirds majority vote from the 36 Bundesliga clubs. This marks the latest attempt to introduce external investment into German football, following two failed efforts in 2023 and 2024 that were abandoned due to fan protests under the '50+1' ownership rule. The rule ensures fan control but limits external capital, leaving German clubs—except Bayern Munich—struggling to compete financially with the English Premier League. The DFL previously tried to sell stakes in broadcast rights for €2 billion and €1 billion, but both were blocked or withdrawn after protests. The current loan proposal is in early stages, and fan reactions are expected after the season starts in late August.
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