Bayern Munich Sells Stake to Viessmann in $4.5bn Valuation Deal

German football powerhouse Bayern Munich is bringing the Viessmann Generations Group into its ownership structure through a stake sale that reportedly values the club at about $4.5 billion, adding a new investor while retaining majority control under its ownership rules.

The agreement, announced on October 22, gives the German family-owned business a stake in FC Bayern München AG, the company responsible for the club’s professional football operations. The transaction involves an equity package originally representing 5% of the company, but a capital increase means Viessmann’s resulting holding will be just under 6.7%, according to the group’s announcement.

The financial terms have not been officially disclosed by the two parties. Bloomberg News, citing people familiar with the transaction, reported that the deal values Bayern at approximately €4 billion, equivalent to around $4.5 billion. German media reports have put the amount expected to flow to the club at about €250 million, although that figure has not been confirmed in the official announcement.

Under the revised ownership structure, Bayern’s parent association, FC Bayern München e.V., will retain 70% of the shares, while the four minority shareholders will collectively hold the remaining 30%. Existing investors Adidas, Audi and Allianz will each hold just under 7.8% after the capital increase, alongside Viessmann’s holding of just under 6.7%.

The investment also gives Viessmann chief executive Max Viessmann a route into the club’s supervisory board, which is expected to expand from nine members to ten. Max Viessmann already sits on the advisory council of the parent association, and the two organizations have worked together since 2018 through a commercial partnership that developed into a broader climate partnership.

The parties said their expanded relationship would focus on projects involving sustainability, international expansion and digitalization. Bayern president Herbert Hainer said the transaction would strengthen the company’s equity base and give the club greater room to manoeuvre in a changing business environment. Max Viessmann said his group intended to contribute both capital and its experience as an internationally active family business.

Viessmann Generations Group is a fourth-generation family-owned business operating in more than 40 countries, with around 6,000 employees in its industrial operations and annual revenue of approximately €2 billion, according to its corporate profile. Its activities include cold-room and clean-room solutions, local and district heating, and power-grid infrastructure supply.

The investment comes within Germany’s distinctive football ownership system, which is designed to preserve member control. Bayern’s structure has allowed commercial partners to acquire minority holdings while the parent association retains a majority stake. With the latest transaction, the association’s shareholding will fall from 75% to 70%, the minimum level stipulated in the club’s articles of association.

The deal strengthens Bayern’s financial base while keeping the club under majority member ownership, a defining feature of its model. It also gives Viessmann a formal stake in one of European football’s most prominent institutions, extending a relationship that has developed over several years from commercial sponsorship into a long-term business partnership.