Football

Eintracht Frankfurt outlines plans for capital increase

Eintracht Frankfurt Fußball AG has outlined plans for a 66 million euro capital increase. However, the sports club, as the current 67.9% majority shareholder, will not see its voting influence reduced.

Eintracht Frankfurt outlines plans for capital increase

Eintracht Frankfurt Fußball AG is considering a capital increase in 2025 with a volume of 66 million euros, without diluting the influence of the sports club as the main shareholder. According to the invitation to the upcoming shareholders meeting, the club plans to „have shareholders approve a concept for a capital increase through the issuance of new shares to strengthen both the company’s equity and the position of Eintracht Frankfurt e.V. as the main shareholder.“ The meeting is scheduled to take place on 2 December at the club's office in the Proficamp at Deutsche Bank Park.

The supervisory board, which met at the end of October, recently discussed potential capital measures based on a valuation report prepared by the investment bank Nomura. The report indicates that „Nomura demonstrated to the board and the supervisory board that a price of at least 179.41 euros per new share is fair and reasonable,“ as mentioned in the invitation to the shareholders' meeting. „This corresponds to a current company value („Equity Value“, which means net of financial debt) of approximately 503 million euros.“ This objective valuation represents the highest company value in the history of Eintracht Frankfurt Fußball AG.

First half of 2025

The board is expected to present a firm proposal for the capital increase at a shareholders’ meeting in the first half of 2025. The scope of the increase should not exceed the issuance of 368,333 new shares (individual shares). At a price of 179.41 euros per share, this would total around 66.1 million euros.

„Eintracht Frankfurt Fußball AG has developed exceptionally positively both in terms of sports and economically in recent years“, reads the invitation to the shareholders' meeting. „To secure this positive development for the coming years, a sustainable strengthening of equity is necessary.“ The main shareholder, Eintracht Frankfurt e.V., has developed a concept to maintain its equity ratio while simultaneously increasing its voting shares.

Club maintains control

In line with the fundamental vote from the members' meeting on September 26, 2022, sports club Eintracht Frankfurt e.V. is strengthening its influence as the main shareholder. The club has indicated in dialogue with the AG that it is open to suitable new shareholders who feel closely connected to football at Eintracht Frankfurt. A key requirement for new shareholders is that they commit to transferring their voting rights in the general meeting to Eintracht Frankfurt e.V. or exercising them only in the same manner as the club. The board and supervisory board have developed three different concepts, which vary in terms of the eligibility to exercise the statutory subscription rights of minority shareholders and the openness to new shareholders. In all three concepts, the club’s subscription rights will be granted, ensuring that the dilution of the shares held by the club (currently 67.9%) is excluded.

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