U.S. Investors Buy Stake in German Football Club Kaiserslautern
- Paul Conway-backed consortium to acquire nearly 10% of team
- Deal marks rare entry by foreign buyers into German football
FC Kaiserslautern players celebrate a goal during a 3. Liga match at Fritz-Walter-Stadion in Kaiserslautern, Germany, on Jan. 15.
Photographer: Christian Kaspar-Bartke/Getty Images
A U.S. consortium will buy nearly 10% of German football club FC Kaiserslautern, marking a rare entry by an overseas group into the country’s tight-knit sports world.
Investors affiliated with Paul Conway’s Pacific Media Group agreed to acquire a stake in the team, Kaiserslautern said in an emailed statement Tuesday, confirming an earlier Bloomberg News report. The deal has been approved by Kaiserslautern as well as its majority owner and regional investors, according to the statement.