The Icon League is opening up to financial investors. In an initial round of investment, the family office of Jürgen Klopp, the venture capital arm of Luigi Berlusconi, and entrepreneur Thomas Hagedorn, have acquired stakes in the German indoor soccer league. The investment is supported by five additional angel investors, valuing the league in the triple-digit million euro range.

„At the beginning of the year, we decided to do a funding round because we saw that our product works and that there is a market for it in Germany“, says Icon League CEO Marc Goroll. Besides financial backing, the Icon League expects strategic support from the anchor investors. „Berlusconi’s venture capital arm brings media expertise. The Klopp family stands for sports authenticity, and the Hagedorn group will mainly contribute strategically in company building“, Goroll explains.

Jürgen Klopp is already involved via his family office in the amateur soccer app Prematch, and the food start-up Wholey. Berlusconi has invested in Germany through H14 and Ithaca Investments in the neobank Trade Republic, food delivery company Deliveroo, transport company Flixbus, insurance start-up Wefox, and open banking platform Yapily.

The Icon League historically grew somewhat chaotically from three football related agents and firms. The structure now needs to be streamlined to turn the startup into a regular company. Before the financing round, five shareholders each held 20% of the league, including former player Toni Kroos, and streaming entrepreneur Elias Nerlich, as well as the companies MMDS GmbH, Rabona, and 360 Media. Marc Goroll and Sascha Breese from Rabona and 360 Media lead the Icon League as managing directors, while Kroos and Nerlich serve as its public ambassadors.

The founders of Icon League, Goroll notes, will continue to hold a clear majority after the financing round. He declined to disclose financial details. „But the publicly reported numbers on the funding rounds of the Baller League and Kings League don’t make me tremble“, he says. The Kings League secured 65 million dollars in a financing round last year, with RTL’s subsidiary „We are Era“ recently acquiring a 20% stake. The Baller League raised 25 million dollars in a financing round led by EQT Ventures.

The Icon League is following suit. „We got the project running with sponsors. To grow, we now need capital, which we want to invest in fresh personnel and expanding our market position“, Goroll explains. The league is also preparing for internationalisation, and plans to expand its franchise system. Thanks to the financing round, the Icon League is fully funded through this and next year, including growth plans. Currently, the startup is still making projected losses but expects to break even in 2026.

„Looking ahead, we want to open the Icon League to larger financial investors“, Goroll notes. Besides international expansion, he sees potential for investors in the league’s sponsorship contracts, which are already in the seven-figure range. Above all, the digital product is scalable. „For example, we have not yet sold any media rights. We also see revenue potential in ticketing and merchandise“, Goroll adds. By the end of 2025, the Icon League expects to generate eight-figure revenues.

The league’s reach currently comes mainly via the streaming platform Twitch and social media. Each matchday is watched by around 100,000 viewers on Twitch. Starting with the final, linear TV coverage on Sport1 will be added. Including Instagram, TikTok, and YouTube, the Icon League claims 1.3 million followers. According to an analysis by the online marketing platform OMR, the Icon League currently has the largest reach with 185.5 million followers, followed by the Kings League with 172.1 million and the Baller League with 79.1 million followers. OMR counted the followers of the leagues, their presidents, and the respective team heads.

Private equity investors are likely watching the developments in indoor soccer closely. Large firms like CVC, Arctos, or Silver Lake are already active in traditional soccer, investing in clubs and leagues. In Germany, investors often run up against the so-called 50+1 rule, which states that each club must be majority-owned by the parent club members. „Compared to traditional soccer in Germany, our model is much more open for investors. There is no 50+1 rule with us, so investors can invest both in the league and in the teams, similar to the US“, Goroll explains.

There is also consolidation potential in indoor soccer. Currently, three emerging leagues – the Icon League, Baller League, and Kings League – are competing for dominance. „I doubt the market in Germany will be open long-term for three separate leagues“, Goroll says. He considers it quite possible that a private equity investor might consolidate the young market in the future with a buy-and-build strategy. The game is still undecided.