Behind every billionaire there is a story!

Comeback of Leo Kirch

When Leo Kirch’s media group was at the height of its troubles at the start of the decade, the German mogul told an interviewer a joke about a man who thought he was dead but whose friend comforted him by pointing out that at least he was not bankrupt. “Well, I have my own version,” Mr Kirch continued. “They say I’m bankrupt. But at least I am not dead.”

This week, Mr Kirch, now 81 - whose media group collapsed in 2002 in Germany’s then largest bankruptcy - has made a dramatic comeback. His agreement to market rights to Bundesliga football matches sees him returning to doing what he likes doing best: wheeling and dealing in the entertainment and sports business.

Mr Kirch’s Sirius agency will oversee the awarding of the rights in German-speaking countries in the next two auctions, guaranteeing the Bundesliga at least €3bn income over six years. The deal returned one of Germany’s most colourful, albeit secretive, entrepreneurs to the spotlight.

read the rest published by FT here:

http://www.ft.com/cms/s/0/3fd5afb4-7795-11dc-9de8-0000779fd2ac.html