27. Juni 2019
Hertha Berlin and Tennor form key strategic partnership. Investment from Tennor builds on continued success of Bundesliga club.
Hertha Berliner Sport-Club GmbH & Co. KGaA ('Hertha BSC' or the ‘Club’) is pleased to announce it has formed a strategic partnership with Tennor Holding B.V. (‘Tennor’), a global investment holding company. The agreement includes an initial equity investment of EUR 125 million and provides Tennor with a minority stake of 37.5 per cent in the Club. In addition, Tennor will have the option to increase its stake up to 49.9 per cent at a higher valuation. Seven months after the buy-back of shares and options (a total of 36.3 per cent for EUR 71.2 million) from investor KKR, a global investment firm, the new partnership will facilitate, amongst other things, a substantial repayment of liabilities and in coming years, future-proof the Club. There will be increased investment in the team and its players, an enhanced digital strategy and better marketing of the club around the world.
The Club’s Board of Directors and its Presidential Board, as well as the Supervisory Board and Advisory Council of the KGaA (partnership limited by shares) have given their unanimous consent to the agreement. Dr. Torsten-Jörn Klein, Chairman of the Supervisory Board of Hertha BSC, said: "This is an exciting milestone in Hertha BSC’s history. We will use these new resources to develop the club and ensure it has an even more successful future. The Supervisory Board, in its function as committee of the proprietor Hertha BSC e.V., has given its unanimous consent".
Werner Gegenbauer, President of Hertha BSC, said: "Today is a great day for Hertha BSC. It places the club in a much stronger financial position and preserves its culture." Michael Preetz, Sporting Director of Hertha BSC, said: "We have ambitious plans to make the team even more successful both in Germany and in European competitions in what an increasingly competitive environment." Ingo Schiller, Commercial Manager of Hertha BSC, said: "I am proud and pleased that our continuous efforts at Hertha BSC have paid off so quickly following the buy-back of the KKR shares. This result is also thanks to the very trusting and professional discussions held with Tennor. I would like to express my particular thanks to all those involved at Hertha and also to our external advisors."
Lars Windhorst, Founder of Tennor Holding B.V., said: "We are making a long-term commitment to build on Hertha BSC’s success, both on and off the pitch to harness the unique culture and ethos that sits at the heart of this fantastic club. The stable revenue base and impressive management team convinced us to enter into this strategic partnership. "We also hope to develop further the club’s digital strategy for the benefit of fans, wherever they are. Hertha BSC is an essential part of the fabric of Berlin, one of the most dynamic and innovative communities in Europe. "For me personally it is also a great pleasure to be able to contribute towards the economic future of this magnificent Berlin club, one that I’m proud to support. Hertha BSC is a great sporting institution, which now faces an even brighter future."