German football clubs voted in a plan to secure private equity investment on Monday in return for a share of TV rights over the next two decades.
In total, 24 of the 36 clubs in the top two divisions of German football voted in favour of the plan at an assembly in Frankfurt, enough to give the proposal the necessary two-thirds majority.
One fewer vote would have seen the process fail. Ten of the clubs voted against the plan while two abstained in the secret ballot.
A similar proposal which sought to sell off a higher percentage of the TV revenue for a larger fee failed to get the necessary majority when put to a vote in May.
Read the full story on the Times of Malta sports website...