MUNICH : The German DFL soccer league failed to reach a two-thirds majority in a vote to allow outside investors to buy its media rights, two sources familiar with the matter told Reuters on Wednesday.
There were 20 yes votes, 11 no votes and five abstentions at a meeting of 36 professional soccer clubs in Frankfurt.
The DFL had hoped to receive around 2 billion euros ($2.20 billion) in return for a 12.5 per cent share of the proceeds from the media marketing of the Bundesliga for at least 20 years.
Investors Advent, CVC and Blackstone had been in the running to acquire a stake, according to sources.
($1 = 0.9084 euros)
Source: CNA
