HanseMerkur to finance HSV home rejig

Article posted by Coliseum, August 17^th, 2022

Image: Hamburg, euroluftbild.de/Grahn, CC BY-SA 3.0 de

Work begins on November 20^th to totally revamp the Volksparkstadion (Germany), home of the 2. Bundesliga club Hamburger SV.

‘Bild’ and ‘Hamburger Abendblatt’ stated that excavators will soon roll and jackhammers will soon be at work.

Hamburger Sport-Verein e.V., commonly known as Hamburger SV or Hamburg is a German sports club based in Hamburg, Germany, known more for its football team.

The 57,000-capacity Volksparkstadion is a football stadium in Hamburg, Germany, and is the home pitch of Hamburger SV.

‘Bild’ and ‘Hamburger Abendblatt’ further stated that following HSV Board Member Dr. Thomas Wüstefeld presenting his 24 million financing model to the supervisory board, work can now begin.

The insurance company HanseMerkur based in Hamburg, Germany, is the main sponsor of Hamburger SV. They are providing a loan to the club in order to finance the stadium renovation.

However, the loan must first be covered/secured through a warrantor.

HanseMerkur has been the new main sponsor of HSV since this season and will pay three million euros annually until 2025 apart from providing a loan for the stadium renovation.

The Hamburg-based company’s one area of business operations is to provide loans.

However, the money will start flowing in only when the guarantors are ready as mentioned above. It is hoped that the City of Hamburg will act as the guarantor and do the needful in this regard for redecoration work of the arena to start in full swing.

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