Corporate governance concepts in German football

German professional football clubs, which are now predominantly structured as corporations, represent a hybrid between sports clubs and commercial enterprises due to their legal form as associations. The resulting multi-dimensional system of objectives leads to conflicts of interest between management and other stakeholders. The requirements for effective corporate governance in terms of efficiently coordinating stakeholder interests are becoming increasingly complex. This paper examines whether the instruments chosen by FIFA, UEFA and the DFL actually contribute to achieving this goal, based on the DFL's licensing procedure, the 50+1 rule, the central allocation of television rights and UEFA Financial Fair Play. From the perspective of strategic investors, the clubs' licensed players, the German Football League and the fans, only the licensing procedure serves to balance the interests of the individual stakeholders of a German professional football club.