Hertha BSC has closed the deal with the new investor 777 Partners. The Florida-based investment firm is taking over all 64.7 percent of the shares of Lars Windhorst and his Tennor Holding in Hertha BSC GmbH & Co KGaA, as the Bundesliga club announced on Saturday.
As part of the acquisition of the shares, 777 Partners will have two seats on the Supervisory Board of Hertha BSC GmbH & Co. KGaA, which now consists of a total of five members. In addition, the new investor will take two seats on the company's advisory board. According to media reports, 777 Partners will not only take over Windhorst's shares, but also acquire further shares. This would bring fresh money to the cash-strapped club, which, like the other Bundesliga clubs, must submit the licensing documents for the coming season to the German Football League (DFL) by 15 March.
"We have the utmost respect for the way football is structured in Germany and look forward to working with everyone involved to help Hertha reach their full potential," said 777 founder and CEO Josh Wander. Hertha emphasizes with regard to the "50 plus 1 rule" that the association "continues to be the sole shareholder of the general partner and the management of Hertha BSC GmbH & Co. KGaA".
Windhorst invested 375 million euros
Unlike Windhorst, 777 Partners has a lot of experience in professional football. Since September 2021, the company has increasingly invested in football clubs worldwide from the first to the third division. In addition to the Paris suburban club Red Star Paris, the portfolio also includes the first division clubs FC Sevilla, Standard Liège, Vasco da Gama from Brazil, Melbourne Victory and the second division club CFC Genoa. With KKR, an American investment company had already held a stake in Hertha for more than four years until 2018.
Windhorst joined Hertha in June 2019. The club could become a real "Big City Club" like other clubs in London or Madrid, Windhorst said at the time. At the beginning, Tennor invested 125 million euros, in total it was ultimately 375 million euros. However, sporting success never came. After numerous disputes, Windhorst had declared at the beginning of October last year that he wanted to end his investment in Hertha and sell his shares.
The latest and final dispute with the club had flared up according to a report in the "Financial Times". The newspaper had reported on a lawsuit by a detective agency from Israel against Tennor. The background is said to have been outstanding payments for the order to collect incriminating material about the former Hertha president Gegenbauer. At the end of November, Windhorst announced the agreement with 777 Partners.