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Tuesday, March 28, 2023

New investor: 100 million euros for Hertha – Big City label “buried”

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Hertha BSC can count on funding of 100 million euros from its new investor 777 Partners.

Hertha BSC can count on funding of 100 million euros from its new investor 777 Partners.

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This sum was confirmed by the CEO of the American company, Josh Wander, at the presentation of the partnership with the Berlin Bundesliga club. Wander did not give a timetable for transfers.

For Hertha, direct donations are fundamental to economic stability. “The entry of 777 is a central component of licensing and to reduce past liabilities,” said Hertha Managing Director Thomas Herrich.

777 Partner replaces Lars Windhorst as the main shareholder in Hertha BSC KGaA. Windhorst had invested a total of around 375 million euros in the club since 2019, but has now left as a partner due to discord. Wander did not provide any information about the payments to Windhorst required for the transfer due to contractual clauses.

“Big City Club” label buried

For Hertha President Kay Bernstein, the new cooperation is a turning point after turbulent years. The club boss settled accounts with the former investor, but also with the former club management. It was the day to “bury” the “Big City Club” label once and for all. The “megalomania of the past few years” is over.

You want to work “humbly” and “focus on the essentials”. Wander called Bernstein and Herrich “the right people to run the club”.

777 Partners was involved in important decisions such as the separation from managing director Fredi Bobic even before the cooperation was announced. “Of course they were involved. It’s a takeaway: how do you rate these measures?” said Bernstein.

Bobic surprisingly had to vacate his post at the end of January and is suing a later dismissal without notice. They also agreed on transfer issues before the contract was signed. “It’s something completely normal when you exchange ideas,” said Bernstein.

“Of course the boys have fears and worries. We take them seriously. So talk to them to reduce fears,” said Bernstein, who used to be active in the fan scene himself. On Saturday, a critical banner on the subject of investment in football was rolled out in the east curve of the Olympic Stadium. “Now we have the third partnership. We have learned from the mistakes of the past,” said Bernstein.

Source: Stern

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