Bayern Munich held discussions earlier this year with private equity firm EQT about selling a minority stake, a move that would have revived Germany’s long-running debate over private capital in football. The talks ended after the departure of Bayern CFO Michael Diederich — EQT’s primary contact — who left to join Deutsche Bank’s corporate banking division, according to sources familiar with the matter. German fans have long opposed outside investment, and protests previously forced the national league to halt private equity negotiations. Under the country’s 50+1 rule, club members must retain majority voting power, limiting how much ownership can be sold.
Bayern’s member association controls 75% of the club, while Adidas, Audi, and Allianz equally hold the remaining shares; none are reportedly interested in selling. Estimates place Bayern’s enterprise value at €4.28bn. The exploratory talks reflect EQT’s growing interest in sports, following smaller ventures such as its $25mn investment in Baller League and discussions with specialist investor Arctos. Neither EQT nor Bayern commented on the matter.
Source: Financial TImes
