According to an official tender document, the perfect solution would be a drop-in replacement based on a storage emulation system.
These frigates were commissioned in the mid-1990s, so it's no surprise that floppy disks were considered a nifty removable storage medium back then. These drives are part of the frigates' data acquisition system and are "central to controlling basic ship functions such as propulsion and power generation," according to the source.
The F123s are experts in submarine hunting and are also getting upgrades to their weapon systems and controls. Swedish company Saab is the main contractor for the F123 modernisations.
Replacing three-decade-old computer hardware seamlessly, while keeping the floppies' full functionality, won't be a walk in the park. However, other companies have tackled similar issues in recent years.
Plus, there are plenty of emulator enthusiasts using technologies like Gotek drives, which can mimic various floppy drive standards and formats. There are already workable solutions out there, but it all depends on who the German Navy picks for the job.