Hertha becomes 150 million richer in corona times

Hertha becomes 150 million richer in corona times

The message to the competition is clear. While bundesliga rivals like schalke 04 have had to make far-reaching financial cuts in the wake of the corona crisis, hertha BSC is getting new financial opportunities thanks to investor lars windhorst.

Tennor holding invests a further 150 million euros as equity in the capital club, hertha announced. This brings windhorst’s total contributions since he joined the company in june 2019 to 374 million euros. "Hertha BSC has never been in a better financial position in its history," president werner gegenbauer is quoted as saying in a club statement.

Tennor to provide an initial 50 million euros in equity in july and a further 100 million euros in october. "This underlines our long-term commitment, especially in difficult corona times," said windhorst as chairman of tennor holding B.V. And at the same time, he made it clear that his investment is intended to take hertha into new sporting spheres: "I am pleased that this opens up great opportunities for the management of hertha BSC to lead the club to success."

When he joined hertha, windhorst had formulated his goals even more clearly: "hertha can become a real big-city club like other clubs in london or madrid."The first attempt to do so in the past season with windhorst confidant jurgen klinsmann first as a member of the supervisory board and then as head coach fizzled out, although hertha spent more money in the winter break than any other football club in the world with almost 80 million euros. "This was certainly a year that no one could have foreseen in the form it took. We’ve hardly missed a beat this season," said manager michael preetz.

Hertha only reached tenth place in the table after its fourth change of coach thanks to the corrections made by bruno labbadia. The demands are much higher now that windhorst has a total of 66.6 percent of the shares in hertha BSC gmbh& co. Kgaa stop. The parent club hertha BSC e.V. However, continues to provide the management.

Hertha’s construction does not violate the 50+1 rule, which stipulates that only corporations in which the club holds a majority of the voting shares can participate in match operations. A limited partnership with shares (kommanditgesellschaft auf aktien – kgaa) may even be completely in investor hands. The complementary company, which is fully entitled to manage the business, must remain in the majority with the club. That remains a given at hertha.

With the new millions, hertha now has "much more room for maneuver," preetz noted. The sporting director faces the difficult task of laying the foundations in terms of personnel for an assault on the champions league in the midst of the corona crisis. "Nothing is happening on the market at the moment. That also has to do with the fact that we have already finished our season in germany, but the other major leagues are still in the middle of it. That makes it very challenging," said preetz.

Frenchman lucas tousart from olympique lyon is the first new coach to be appointed. Loan players nils korber and daishawn redan return to hertha. "Otherwise, we are working on various options to specifically strengthen our squad in one position or another," said the manager. "If the first stone falls at some point, then there will be movement in the market. We are prepared for this."Hertha also wants to use the new funds to improve the club’s infrastructure, reduce interest-bearing liabilities and create a liquidity reserve, explained financial director ingo schiller.

Despite the capital increase, tennor retains four of the nine positions on the supervisory board of hertha-kgaa. The two newly proposed candidates jens lehmann, former national goalkeeper, and business lawyer thomas werlen were officially appointed to the supervisory board. Lehmann is the successor to ex-bundestrainer klinsmann. In addition, consultant marc kosicke, whose clients include coaches jurgen klopp and julian nagelsmann, will act in an advisory capacity for tennor.

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