Bundesliga: Hannover 96 will ask the DFL for an exemption to the so-called "50+1" shareholding rule

Hannover 96 (Bundesliga) will file an application with the DFL for exemption from the so-called "50+1 rule", after the decision of the board of directors and the supervisory board of the Hannover 96 eV association, indicated the German club on 31/07/2017.

"Hannover 96 eV wants to sell 51% of its shares in the subsidiary Hanover 96 Management GmbH to Martin Kind (73 years old, president of the club since 26/09/1997)," the club said. The "50+1" rule, which reserves the majority of the voting rights (50%+1) to the association within the club, is set out in the DFL statutes. It is one of the criteria for the awarding of the professional license, but Martin Kind is firmly opposed to this structure, considering that it paralyzes the professional clubs.

"By obtaining an exception from the '50+1' rule, Hannover 96 ensures a competitive advantage in the Bundesliga (to attract new investors), and at the same time guarantees a range of additional attractive services to the association Hannover 96 eV. If the club does not get this waiver, this dubious antitrust rule should be dropped for all…