2. Bundesliga: DFL approves Porsche's (Volkswagen Group) acquisition of a stake in VfB Stuttgart

The Deutsche Fußball Liga executive committee has approved the acquisition of a minority stake (10.41%) by German car manufacturer Porsche in VfB Stuttgart (2.Bundesliga), announced the DFL on 26/01/2024.

The decision, taken unanimously, concerns the acquisition of a 5.49% stake in the club's trading company (VfB Stuttgart 1893 AG) announced for June 2023, with a further 5.2% to be acquired in June 2024. Once these two transactions have been validated, VfB Stuttgart e.V. will hold 78.4%, while Mercedes-Benz (10.4%) and equipment manufacturer Jako (1%) will remain minority shareholders. "In the coming years, VfB Stuttgart intends to sell the remaining 3.9% through a further increase in capital, which would lead to a dilution of shares belonging to existing investors in accordance with their shareholding," explained the club.

Porsche's acquisition of a stake was examined by the DFL because the car manufacturer belongs to the Volkswagen group, which, through several of its brands, is a shareholder in a number of German professional clubs. "Questions arose under association law regarding…