March 14 – Miami-based private equity firm 777 Partners has bought a 64.7% majority stake in Hertha Berlin, buying the shares of disaffected owner Lars Windhorst, held by his Peil Investment group.
Windhorst had invested €374 million ($400 million) since 2019 on turning Hertha into a “big city club” but the team has never managed to put seasonal relegation battles behind them, while off the field Windhorst fell out with club presidents and failed to get control of the board.
“This is a future-oriented step for Hertha BSC… This strategic partnership will help us to continue the restructuring process and economic consolidation of Hertha BSC,” said Kay Bernstein, president of Hertha.
777 Partners has established a global, multi-club network which includes Italy’s Genoa, Brazil’s Vasco da Gama, Belgium’s Standard Liège, France’s Red Star FC, Spain’s Sevilla FC and Australia’s Melbourne Victory FC.
While 777 Partners will have majority ownership, Germany’s 50+1 rule means the club retains the majority of voting rights, thus limiting the influence of outside investors.
“777 Partners will receive two seats on the supervisory board of Hertha BSC & Co. KGaA, which will now be made up of five members. 777 Partners will also acquire two seats on the advisory board,” said a club press release.
Hertha currently sit one point above the Bundesliga relegation zone after 24 games.
Josh Wander, founder and CEO of 777 Partners, said: “Our top priority is working together with the club and its leadership to secure Hertha’s long-term success on and off the pitch. We have great respect for the manner in which football is structured in Germany and are looking forward to working together with all those involved in order to help Hertha fulfil their full potential… Ultimately, we want what everyone wants: To bring sustainable success to Hertha BSC.”
Contact the writer of this story at email@example.com