Hamburger SV needs a lot of money again. Investor Klaus-Michael Kühne is ready to help out with 120 million euros. But the entrepreneur only wants to help the club again under very specific conditions. And the requirements are tough.
Billionaire Klaus-Michael Kühne wants to give Hamburger SV another cash injection of 120 million euros - but his offer is subject to conditions. The money from the Kühne Holding AG of the entrepreneur, who is controversial among the fans, would only flow if the financially troubled second division club agreed to a "ten-point program to restructure the traditional Hamburg club", according to a statement from Kühne Holding AG.
Point nine of the Kühne conditions is particularly piquant, which states: "The supervisory board and board of directors of HSV Fußball AG will be filled in such a way that the club is managed properly, competently and in a success-oriented manner". Kühne said in the "Abendblatt" last week that he hoped that the board "will soon be history at HSV".
A clear swipe at the previous management, especially the relationship between Kühne and board member Thomas Wüstefeld is considered shattered. The medical entrepreneur acquired shares from Kühne last year and owns 5.11 percent of the AG. Most recently, he had heavily criticized his predecessor Frank Wettsein and Kühne, who lives in Switzerland, because he had not felt fully informed about the club's dramatic financial situation. According to the "Hamburger Abendblatt", Wüstefeld even wants to sue Kühne Holding. The chairman of the holding company, Karl Gernandt, confirmed the "legal dispute" to the newspaper.
Kühne's move comes a day before the supervisory board meeting at which CFO Wüstefeld wants to present his restructuring plan. According to information from the "Hamburger Abendblatt" (Friday), however, there is a motion to vote out Wüstefeld. The city once made 23.5 million euros available for this, but the money has long since been spent, and now guarantors or lenders have to step into the breach - or investors like Kühne.
In addition, Kühne wants to be given the right, like the parent association, "to send two people they nominate to the supervisory board". In addition, Kühne wants to reorganize the distribution of shares in the outsourced Fußball AG via the possible capital increase, HSV e.V. should only hold 50.1 percent (previously around 75 percent), Kühne Holding AG "approx. 39.9" percent (previously around 15 Percent). This would require the consent of the members.
In addition, Kühne confirmed the proposal he had already made to have the Volksparkstadion renamed the "Uwe-Seeler-Stadion". "For a period of 10 years" he was ready "to pay HSV Fußball AG an annual fee for the naming rights of EUR 3-4 million, i.e. a total of EUR 30-40 million over a ten-year period," as stated in Kühnes message is called.
