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(Bloomberg) -- Blackstone Inc. has dropped out of the bidding for a controversial football media rights deal in Germany, according to people familiar with the matter, following a backlash from fans critical of foreign capital..
Structuring and economic factors also made it hard for Blackstone to see how to make a transaction work, the people said, asking not to be identified because the information is private..
Blackstones departure leaves CVC Capital Partners, which has a stake in the media interests of the French and Spanish elite football leagues, as the sole remaining bidder..
The publication Spiegel Sport last weekend criticized Blackstone Chairman Stephen Schwarzman, observing that in 2010 he compared planned tax increases by President Barack Obama with Adolf Hitlers invasion of Poland..
Buyout firms including Blackstone, CVC and EQT AB in December submitted bids for a minority stake in the company that holds broadcasting rights for the countrys top football leagues..
