EAN: 9783954892433

THE 50 + 1 RULE WHAT TO CONSIDER BEFORE BUYING ...

This study analyses the legal and statutory environment for investments in football clubs in
Germany  as opposed to the situation in England. Whereas German regulations limit the
acquisition of shares of football clubs  the legal framework is much more liberal in England.
The paper looks at the potential conflicts of interest involved with club ownership issues as
well as at the arguments for and against the German 50 plus 1 rule and how this rule may cause
a shortfall in competitiveness as compared to English football. Finally  the study looks at
doubts over the lawfulness of the rule in relation to European antitrust legislation and doubts
over its effectiveness concerning legal loopholes provided by German corporation law. The paper
relied predominantly on the analysis of literature concerning the regulation of club ownership
in England and Germany  whereas a significant amount of German literature was used. Essentially
the research found that there is reason for severe scepticism about both the lawfulness and the
effectiveness of the 50 plus 1 rule. It would probably not bear up against a test before the
European Court of Justice. There are several opportunities in German corporate law to
circumvent the rule. Finally  the paper urges the German Football Association (DFB) to consider
a softening of the regulations currently in place  and effective modifications of the
underlying licensing system  respectively  as well as the introduction of supporters trusts and
fit and proper person tests. Finally  the paper claims that competitive balance on a European
club level can only be restored if club ownership issues are resolved on a European level.

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