Software billionaire Dietmar Hopp takes majority stake in Hoffenheim

Software billionaire Dietmar Hopp has taken a majority stake in his hometown club Hoffenheim, becoming the first private owner of a Bundesliga side.

A co-founder of the SAP software giant, Hopp has been financing the club for about 25 years, spending an estimated 350 million euros ($395 million) to see the side progress from minor leagues to the Bundesliga.

A statement on the club's official website confirmed a general assembly of Hoffenheim members unanimously approved the move.

Hopp took advantage of a recent league decision to allow private investors with more than 20 years of uninterrupted and significant financial support for a club to own a majority stake.

Normally, no outside investors can own more than 49 percent of a club, although exceptions have been made for some corporate sponsors.

Hoffenheim currently sit seventh in the Bundesliga with 26 points from 20 games, though have lost their first three games of the 'Ruckrunde' -- the second half of the Bundesliga season.