FRANKFURT: Germany's top-flight soccer league has drawn up a shortlist of buyout funds, including KKR and Bridgepoint, to buy a 25per cent stake in its overseas broadcasting rights, people close to the matter told Reuters.
European private equity firm CVC has also advanced to the second round of the auction that could value the Bundesliga's overseas broadcasting rights at roughly 2 billion euros (US$2.42 billion), the sources said.
The league's soccer clubs will meet on May 19 to vote on the plans, with a two-thirds majority needed to move to the final phase. Binding bids would be expected by late June, with a deal envisaged in July, the sources added.
The German Football League (DFL), which organises the country's top two leagues, and the bidders declined to comment.
The stake sale, which could be worth up to 500 million euros, would bring outside investors into one of football's biggest leagues at a time when they are contending with the plunge in revenue from having to stage matches in empty stadiums during the COVID-19 pandemic.
(Editing by David Goodman)