“A slap in the face”: FC Bayern’s mega-deal draws fierce criticism | OneFootball

According to consistent media reports, FC Bayern is planning a historic deal: The last five percent of the remaining shares in FC Bayern München AG are set to go to Viessmann for around 250 million euros. Financially, this would be a massive deal. However, the plan is facing significant criticism from some fans.

As reported by the tz and the Münchner Merkur on Thursday, FC Bayern intends to further reduce its stake in the corporation. The executive committee led by Herbert Hainer is said to have already passed the corresponding resolution.

According to these reports, Viessmann would acquire 5 percent of the shares for approximately 250 million euros. The deal would value FC Bayern Munich AG at around five billion euros.

For the record-holding champion, the sale would have far-reaching consequences. FC Bayern Munich e.V. currently holds 75 percent of the shares. Adidas, Audi, and Allianz each hold 8.33 percent. With Viessmann’s investment, the parent club’s stake would drop to 70 percent.

This would mean that Bayern would have fully exhausted the self-imposed limit for the sale of shares.

Bayern could reach the 30 percent limit

Uli Hoeneß had already publicly stated in November 2025 that such a move was possible in principle. At the time, the honorary president referred to the agreement with the members to open up a maximum of 30 percent of the stock corporation to external shareholders. “We have a deal with our members that we won’t sell more than 30 percent. Theoretically, we could sell five percent without asking the members. For anything more, we’d need a two-thirds majority. And we’ll never get that,” Hoeneß explained.

A vote by the members would therefore not be required for the planned Viessmann deal. At the 2021 annual general meeting, an initiative to further restrict the limit on share sales failed.

In addition to becoming a shareholder, Viessmann is also set to move up within the sponsorship structure and become one of the German record champions’ most important partners in the future.

Financially, the deal would be extremely lucrative for Bayern. Reportedly, the club would receive 250 million euros for the five percent stake alone. Nevertheless, the very question of why the Munich club wants to sell its last available shares right now is sparking debate.

Michael Ott accuses Bayern executives of “breaking their word”

Michael Ott was particularly outspoken. The Bayern fan had previously attracted nationwide attention for, among other things, his criticism of the partnership with Qatar Airways.

Ott’s criticism is directed less at Viessmann himself than at the club leadership’s handling of previous statements made to the members.

At the 2021 Annual General Meeting, President Herbert Hainer and then-CEO Oliver Kahn reportedly conveyed that selling the remaining 5 percent would only be considered in the event of a financial crisis.

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Ott doesn’t see it that way right now. “A slap in the face to all FCB members,” he wrote on X, recalling the statements made at the time. The remaining five percent are now being “sold without any need.”

Ott went on to explain: “I have nothing against Viessmann, and I’m hardly in a position to evaluate the details of the deal. But I find the way the members are being treated here disrespectful and a breach of trust.”

This is likely to spark a debate that goes far beyond the economic assessment of the deal. After all, FC Bayern regularly presents itself as a member-run club and emphasizes its financial independence.

That is precisely why communication surrounding the planned sale could play a decisive role.

The sale of shares has been a topic of discussion for some time

However, the plans do not come as a complete surprise. As early as 2025, Bayern was already considering the possibility of selling additional shares.

At that time, there were talks with the Swedish investment firm EQT regarding the acquisition of a smaller block of shares. However, no deal was reached. The negotiations ultimately fell through after the club’s then-CFO, Michael Diederich, left the club.

With Viessmann, another partner now appears to be willing to pay a substantial sum to acquire a stake. From an economic perspective, the valuation would be remarkable: 250 million euros for five percent would value FC Bayern München AG at around five billion euros.

For those in charge, there are therefore likely to be strong arguments in favor of the deal. At the same time, Hainer and his team must explain why the sale makes sense right now and how the proceeds are to be used.

After all, financially speaking, FC Bayern is clearly not in any kind of crisis. Hainer himself had only recently pointed to the club’s economic stability and its still-existing “fixed-term deposit account.”

It is precisely this fact that provides critics of the planned deal with new arguments. From a financial standpoint, 250 million euros for a five percent stake could be an exceptionally attractive deal. Politically, however—and in relation to its own members—Viessmann’s planned investment is likely to spark plenty of debate.