Porsche to acquire 10% stake in VfB Stuttgart

According to Kicker, after a long period of deliberation, the DFL have approved a deal between Porsche and VfB Stuttgart which will see the car company buy a 10% stake in the club.

The move was originally announced in the summer but has taken several months for the move to be fully approved. The long wait was because the company that owns Porsche, Volkswagen, owns a 100% stake in Bundesliga rivals Wolfsburg. 

There were reportedly controversial discussions in the DFL meeting surrounding the approval of the move but a positive outcome was achieved after Stuttgart CEO Alexander Wehrle and a legal advisor spoke before the board. 

Porsche joins Mercedes Benz as well as Jako AG as shareholders in VfB Stuttgart. Similar to both Mercedes, who are located directly next to the MHP Arena, and Jako, who are located outside of Stuttgart, Porsche are based in the area surrounding Stuttgart with their headquarters based in the Zuffenhausen district of the city. 

GGFN | Jack Meenan 

 

Get Football+

More European Football News