Liverpool's $ 170 million play for Wirtz Shows Bundesliga Limits

(Bloomberg) – Liverpool FC’s potential signing of German football star Florian Wirtz for an alleged € 150 million ($ 170 million) will not only let Bayern Munich down, but it will probably also re -compete with Europe’s more profitable league for talent. The 22-year-old offensive midfielder, who is expected to join the German champions next season after helping a year ago help Bayer Leverkusen home team to the first league title, indicated that his preference moved to Anfield following the talks with both clubs, reports the Bild newspaper Bild Saturday. A Liverpool signing would reunite the German international reunification with teammate Jeremie Frimpong van Leverkusen, who is also reported to join the Reds. The disciplinary-of-wall shows the boundaries the Bundesliga faces on the transfer market when facing the English Premier League. Track Record Bayern Munich has a long record of attracting the best players of Germany with salaries that domestic opponents cannot afford, and teams up with international stars such as English forward Harry Kane or France’s Michael Olise. Bayern, who regained the German title this season, tried to persuade Wirtz to join the country’s most successful football club. The excellent financial firepower of Liverpool and other Premier League clubs has made it increasingly difficult for German sides to attract and retain top stars. One limiting factor is the so-called 50 1 rule, which states that the members of a club should hold at least 50% plus one of the right to vote in the unit operating the professional football team. This ensures that supporters and other club members retain control and influence of external investors. It also helps keep ticket prices in Germany relatively low and fills the country’s stadiums, which are some of the highest attendance rates in the world. “To keep the league competitive, it is necessary to reform 50 1 rule or find a way to give more money from the league to the clubs,” says Daniel Erd, a lawyer in Frankfurt at law firm Watson Farley & Williams LLP. “Both ways require a reform.” The people like Liverpool or Manchester City generate significantly more income from domestic and international broadcast rights and are supported by Ultra-rich owners from the US or the Middle East. Eintracht German clubs with major fanbases, such as Eintracht Frankfurt or Werder Bremen, have managed to overcome some of the obstacles by raising funds with the help of local investors who want to support the teams but do not want to weigh on the management of the clubs. Hamburg’s St. Pauli collected almost € 30 million ($ 34 million) of his fans between November 2024 and March 2025, one of the first such cooperatives established to buy a majority interest in a club. Yet German clubs struggled to utilize new resources of financing sources above ticket prices, broadcasting rights and sponsorship transactions. FC Augsburg and Hertha BSc Berlin both unsuccessfully tried to give new investors on board. Although the 50 1 -line is one of the most controversial shelters for fang calls and large parts of the Germany’s football business, which is more focused on the sports prospects of the sport than football nostalgia, the legal conditions for investors can change. Germany’s cartel office investigates whether the 50 1 rule is compatible with German and European competition laws. And in some recent decisions, the European Court of Justice has also marked potential concerns, according to Ingo Strauss, a partner at the law firm Latham & Watkins. Rerun that could lead to a recurrence of last year’s controversy, when a third attempt to get private equity investors on board at an investment vehicle selling broadcasting rights failed. The negotiations provoked far-reaching opposition from some clubs and phang groups, and in the end, the umbrella organization of the league, the Deutsche Fussball League, agreed on a slightly improved broadcasting agreement, which also bought it some time to increase a new strategy to increase the income. The DFL and club officials recently reinforced talks about strengthening the Bundesliga’s appeal and possible options to reform the 50 1 line to make it easier for clubs to attract investors. One key element of the deliberations is an analysis of 108 pages, seen by Bloomberg News, which shows how much German football does not lack revenue outside its domestic market compared to the Premier League. In order to increase its international attraction, the German league will have to broaden the competition so that more clubs can challenge Bayern and attract star players who can help teams to achieve more success in competitions such as the UEFA Champions League. The neighboring France also struggled with the complexities of European football and challenging business conditions. The Ligue 1 recently canceled a TV deal with Dazn only one year in a five-year contract. Dazn blamed the league that he did not do enough to fight illegal streaming. The departure of stars, including Kylian Mbappe, Lionel Messi and Neymar, contributed to the obstacles for France’s top league. Just as in France, the German debate on how to raise more money and compete with the rapidly changing sports business. “The problem is 50 1, but I fear you can’t get the majority for the idea of ​​changing it,” says Martin Child, a German entrepreneur and former chairman of Hannover 96 football club, who has been one of the most vocal advocates of deeper reforms for the past few years. “The only way is for the advocates to challenge it,” Kind said. -With help from Marcus Wright. More stories like these are available on Bloomberg.com © 2025 Bloomberg LP