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The League Association Executive and the Supervisory Board of the DFL Deutsche Fußball Liga GmbH agreed unanimously at a meeting on Tuesday as to the success of talks with KF 15 GmbH & Co. KG on outstanding matters relating to the start-up of a joint venture with the DFL.

League President Dr. Reinhard Rauball said, "We are delighted to have created a solid foundation for a cooperation with KF 15. And we would like to thank the DFL management, whose judicious handling of the negotiation process throughout has ensured the interests of the clubs have been factored in at all times on the way to attaining an optimal solution."

Rights to all 612 matches

League Association and DFL signatories were empowered with immediate effect to sign the subsequently finalised agreements. The newly formed joint enterprise will offer a full programme - including the broadcast of all 612 Bundesliga and 2. Bundesliga matches - to future holders of live rights in the pay-per-view sector. This will enable interested parties to bid without the need for any substantial up-front investment, making the bidding process more competitive.

The DFL will have a 49 per cent stake in the new company, with KF 15 subsidiary Sirius holding 51 per cent. The Chief Executive, appointed by Sirius, will run the enterprise in conjunction with the monitoring committees.

Tender for rights starting from 2009-2010 season in the offing

The executive board of the joint venture will consist of three members appointed by the DFL and three by KF 15. The name of the new enterprise is currently under review and will be announced shortly.

The tender for rights from the season 2009-2010 onwards will also be published shortly, with the actual tendering process set to commence four weeks later.