FC Bayern has closed another multi-million deal. By selling five percent of its shares in FC Bayern München AG to the Viessmann Generations Group, the German record champion will receive approximately 250 million euros. From a financial standpoint, this is a remarkable deal. Among some of the club’s own supporters, however, the decision has caused considerable discontent.
The reason: With this sale, the Munich club has fully exhausted the 30 percent limit on external investor ownership permitted under the club’s bylaws. Further sales of shares would therefore no longer be possible without a corresponding amendment to the bylaws.
Some fans are particularly critical of the timing of the deal. After all, FC Bayern is in excellent financial shape. Most recently, the record champion reported revenue of 978 million euros and a profit of 27.1 million euros.
Bayern Fans Criticize Share Sale
As early as the Bundesliga opener against VfB Stuttgart at the end of August, the Südkurve had reacted to the plans with a critical banner.
“€978 million in revenue and €27.1 million in net profit. Selling 5% of shares just for tough times?” the banner read at the time.
The background to this is a discussion from 2021. At that time, Bayern member Michael Ott had proposed at the annual general meeting that future share sales should require the approval of the members.
The motion narrowly failed to secure the required three-quarters majority.
At the time, President Herbert Hainer had argued in favor of preserving the necessary freedom of action for club officials so they could respond, especially during economically difficult times.
The fact that the club is now selling the remaining five percent despite its strong financial position has drawn sharp criticism from Ott. The attorney had already described the deal in advance as “a slap in the face to all members.”
He finds Hainer’s statements at the time particularly baffling. Ott accuses club officials of selling the shares now “without any necessity.” “How little can one keep one’s word?” the Bayern member criticized.
Hainer defends the 250-million-euro deal
The club’s leadership, however, views the decision as a strategically sound move toward long-term financial security.
In an interview with the Süddeutsche Zeitung, Hainer defended the sale. “There’s a saying: ‘Save in good times, so you’ll have something in hard times.’ We’ve now found the right partner who’s also offering us a very reasonable amount for the shares,” explained the Bayern president.
The approximately 250 million euros will initially serve as a financial reserve. “We’re setting this amount aside,” Hainer emphasized. At the same time, he did not rule out the possibility that the money might also be used for investments in the future.
The Bayern boss also pointed out that the sale of the shares is consistent with the club’s current rules. “Our approach complies with the bylaws. We are adhering to them, and we are convinced that this will meet with broad acceptance,” Hainer explained.
Whether this assessment is actually shared by all members should become clear soon.
FC Bayern’s next annual general meeting is scheduled for November 21. There, the 250-million-euro deal could once again spark controversial discussions between members and club leadership.