The transaction

The Viessmann Generations Group, the holding through which the Hessian billionaire family bundles its investments, will take a stake in FC Bayern München AG, the club announced on Thursday, 22 October 2026. The package is the last one open to outside investors. Originally 5 percent, it rises to just below 6.7 percent because the deal is executed as a capital increase. Viessmann becomes the fourth outside shareholder, after Adidas, Audi and Allianz. Those three together held 25 percent, and after the increase each will hold roughly 7.8 percent, according to N-tv and Spiegel.

Under the club's statutes, outside investors may hold 30 percent in total, while 70 percent stays with the parent association, FC Bayern e.V.

FC Bayern e.V. (parent association)70%

External shareholders30%

FC Bayern e.V. (parent association)

70 %

External shareholders

30 %

Data from the article text

Handelsblatt recalls that a 2021 motion at the annual general meeting, asking that the club keep 75 percent of its shares, failed to win a majority. That outcome meant the last 5 percent could be sold without a vote of the members.

Price and valuation

No official price has been published. A spokeswoman declined to comment on the purchase price, according to N-tv, which cites insiders who put it at around 250 million euros. Spiegel had reported in advance that a sum of 250 million euros was being speculated about, and Focus reports that Bild says the deal was struck at that amount. N-tv derives an implied valuation of just under four billion euros from that figure. DIE WELT scales the price up to the full stake and arrives at roughly five billion euros, a calculation the outlet made itself rather than a figure from the club. Because the shares are not listed on a stock exchange, private investors and fans cannot buy them on the open market.

Supervisory board and partnership

Max Viessmann, who already sits on the club's advisory board, is to join the supervisory board of FC Bayern München AG, which will grow from nine to ten members. Club president Herbert Hainer said in a statement:

“This step strengthens the ownership structure of FC Bayern München AG. In addition, a significantly improved equity base increases room for manoeuvre in a time of permanent change.”

The two sides have worked together since 2018. Max Viessmann told Handelsblatt that the brand's involvement began with a wish to raise its profile in Asia, especially Southeast Asia, and that the fit still holds. In the club's announcement, Viessmann also praised the club:

“FC Bayern is one of Europe's most successful clubs, with clear values and a strong sense of its social responsibility.”

Seller background and the money

The family sold its core heating and climate business to the US air-conditioning maker Carrier for 12 billion euros in 2023, and has looked for new places to put its capital since. DIE WELT says Max Viessmann has directed much of that money into sustainable ecosystems, co-investments and stakes. Handelsblatt puts the group's industrial core at about 6,000 staff, annual revenue of around 2 billion euros and activity in more than 40 countries, and notes a 3.5 percent stake in the sailing operator Sail GP.

The club says the new capital will go mainly to projects in sustainability, internationalisation and digitalisation. DIE WELT argues that the cash could also cover a transfer fee of around 100 million euros or ease contract extensions for Harry Kane or Michael Olise, while noting that no such transfer is currently planned.