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Hamburger SV: Kühne offers 120 million – on his terms

Status: 08/11/2022 8:29 p.m

One day after the funeral service for Uwe Seeler, billionaire Klaus-Michael Kühne promised Hamburger SV a cash injection of 120 million euros. However, the 85-year-old attaches conditions to his offer. The “Abendblatt” also reports on a vote against Thomas Wüstefeld.

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 for the renovation of the traditional Hamburg club”, the investor announced on Thursday afternoon.

Kühne wants to have a say in filling the top committees

Point nine of the Kühne conditions is particularly piquant, which states: “The supervisory board and board of directors of HSV Fußball AG are filled in such a way that the club is managed properly, competently and in a success-oriented manner”. On the one hand, this leaves a lot of room for interpretation. On the other hand, it is a clear dig at the previous leadership. The relationship between Kühne and board member Thomas Wüstefeld is considered broken.

The medical entrepreneur acquired shares from Kühne last year and owns 5.11 percent of the AG. Most recently, he had heavily criticized 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 comes before Wüstefeld – lawsuit and request for deselection

A few days ago, Wüstefeld announced that it would present a concept for the renovation of the Volkspark Stadium, which had been renovated 22 years ago, for the 2024 European Championship. Since the 23.5 million euros made available by the city for the stadium site have long since been spent, investors, lenders and guarantors now have to be found. Kühne has now driven the chief financial officer into the parade.

Wüstefeld thinks it’s “good for HSV if others like Mr. Kühne are also moving,” said the medical entrepreneur on Thursday and was diplomatic with a view to the offer from Switzerland. “It’s definitely good for the club.” According to information from the “Hamburger Abendblatt”, however, there is a motion to vote out Wüstefeld. The entrepreneur has been in dispute with sports director Jonas Boldt for a long time. The Supervisory Board has so far avoided taking a public position.

Investor wants to increase shares to 39.9 percent

In addition, Kühne would like to be given the right, like the parent association, “to delegate two of their nominated persons to the supervisory board”. In addition, the investor is aiming to reorganize the distribution of shares in the outsourced Fußball AG via the possible capital increase, with HSV eV only holding 50.1 percent (previously around 75 percent), and Kühne Holding AG then “approx. 39.9 ” percent (previously around 15 percent).

Exactly this point “should be difficult as far as the eV is concerned,” said Wüstefeld. According to the statutes, no more than 24.9 percent may be sold to shareholders other than the association. This would require the consent of the members.

Millions for renaming rights to “Uwe-Seeler-Stadion”

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 a message was called.

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Sports current | 08/11/2022 | 4:17 p.m

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