Bundesliga Side VfB Stuttgart Plans To Raise Up To $102M By Selling 25% Stake

Bundesliga club VfB Stuttgart is hoping to generate up to €80M ($102M) "from the sale of club shares after a proposed separation of the pro football department from the main club," according to the SID. Club President Bernd Wahler and Supervisory Board Chair Joachim Schmidt "announced the plans at a meeting with sponsors and business customers on Tuesday." The plans "call for the sale of a 25% stake in the club to investors after the proposed separation, which is scheduled for spring '15." The sale of a 25% stake in the club is expected to bring in €80M. The club's partners "are reportedly in favor of the plans." Stuttgart "is expected to decide on the proposal at a meeting in April." According to club rules, a majority of 75% of votes is required for the plans to move forward (SID, 10/23).