Source: Red
Bull/dieserbobby
[Saba
Sports News] According to German media reports, Porsche has received approval
from the German Football League to acquire a 10.4% stake in Stuttgart. The
funds from this acquisition, amounting to €40 million, will be utilized for
player signings and the development of the youth training department during the
upcoming season. The agreement between Stuttgart, Porsche, and Mercedes (an
existing shareholder of Stuttgart) was initially announced in late June 2023,
with all parties having already signed the necessary contracts. The German
antitrust authorities approved the plan in November, and now the approval from
the German Football League (DFL) marks an important milestone in the deal’s
completion. The injection of funds from Porsche is expected to play a
significant role in the recruitment process and the modernization of
Stuttgart’s youth training department.