Second division soccer team Hamburger SV rejects the financial injection of 120 million euros offered by entrepreneur Klaus-Michael Kühne. The reason for this are wild conditions attached to the offer, which HSV "would not be able to implement". But money still flows.
Second division soccer team Hamburger SV needs money again - and still rejects the 120 million euro offer from investor Klaus-Michael Kühne. The ten-point catalog of requirements "cannot be implemented in this form," said Marcell Jansen, chairman of the supervisory board. However, HSV see the Kühne offer "as a further impetus that we will deal with".
Kühne demands significantly more say in the club for possible investments and wants to increase his shareholding in HSV to 39.9 percent. In return, HSV e.V. is to reduce its stake from 75.1 percent to 50.1 percent. This means that Kühne would have a blocking minority in the club and could block decisions by the club's committees.
Jansen emphasized that "the limits for the sale of shares are anchored in our articles of association". The maximum for foreign investors is currently 24.9 percent. An amendment to the statutes can only be achieved by a three-quarters majority in membership. However, the majority rejects this. According to Jansen, the executive committee was commissioned in 2021 to evaluate the best possible legal form for HSV. The conversion into a partnership limited by shares is under discussion. Jansen said he wanted to "exchange his offer directly and personally with Mr. Kühne".
Another piquant point in the Kühne conditions was: "The Supervisory Board and Executive Board of HSV Fußball AG will be filled in such a way that the club is managed properly, competently and success-oriented". About two weeks ago, Kühne said in the "Abendblatt" that he hoped that the board "will soon be history at HSV".
Regarding the dispute between the board members Jonas Boldt and Thomas Wüstefeld, Jansen now said: "We have clearly expressed our trust in both board members and stand behind the respective plans and objectives." The board of directors from Boldt and Wüstefeld will be "fully supported by us," assured the 36-year-old club president.
But money still flows at HSV: The insurance group Hanse Merkur grants the club a loan to finance its stadium renovation. It is a loan of 23 million euros, the insurance company said on request. "At the same time, we are an economically active company and in this respect it is assumed that appropriate guarantors are available," informed the Hamburg insurance group. HSV CFO Wüstefeld wants to submit signatures from guarantors this week.
