Today, Friday (01.31.14) Hertha entered a new strategic partnership with the leading US based global investor Kohlberg Kravis Roberts & Co. LP ("KKR"). KKR has its its hands in a range of businesses, from natural gas to maritime finance. The deal was formally announced by club president Werner Gegenbauer, Michael Preetz (sporting director) and Ingo Schiller (Finance Director) today.
The agreement establishes a long-term investment involving over 61.2 million Euros that more than wiping out the clubs debts of some 37 million Euros as well as buy back marketing, television and catering rights. Although the partnership involves the acquisition of a minority stake of 9.7% in Hertha BSC it has already been clearly established that Hertha BSC will continue to take independent sporting decisions.
K.K.R., will be getting a seat on Hertha BSC’s supervisory board and has the option to increase its stake to 33.3 percent over time. There are exciting times ahead for Hertha and we will have to see how this folds out in the future. Some fans in the Ostkurve clearly had their doubt and expressed them in the first home match after the announcement. A banner read "Pakt mit dem Teufel? (a pact with the devil?) . . .
KKR Press Release - Hertha BSC and KKR enter strategic partnership
Hertha Press Release - Hertha BSC und KKR schließen strategische Partnerschaft.
Hertha Press Release - Hertha BSC und KKR schließen strategische Partnerschaft.
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