Miami firm picks up major Hertha Berlin stake

Article posted by Coliseum, March 15^th, 2023

Image: Olympiastadion Berlin

Miami (US)-based investment group 777 Partners has completed its 64.7 percent majority stake takeover of the Bundesliga club Hertha Berlin (Germany).

‘The Washington Post’ stated that the German soccer club said on March 11^th that 777 had acquired the company shares previously owned by Lars Windhorst’s investment group. Windhorst said in October he wanted out after a breakdown in his relationship with the club.

777 Partners is a Miami (US)-based alternative investment platform that invests across a number of high-growth attractive verticals with a strong focus on financial services. Founded in 2015 as the result of a management buyout of SuttonPark Capital from PennantPark, 777 Partners initially applied its expertise in underwriting and financing esoteric assets to diversify across a broad spectrum of financial services businesses, asset originators and financial technology/service providers.

Apply for membership

Hertha BSC, sometimes referred to as Hertha Berlin, is a German professional football club based in the locality of Westend of the borough of Charlottenburg-Wilmersdorf of Berlin (Germany). Hertha BSC plays in the Bundesliga, the top tier of German football. Hertha BSC was founded in 1892, and was a founding member of the German Football Association in Leipzig in 1900.

The Olympiastadion is a sports stadium at Olympiapark Berlin in Berlin, Germany. It was originally built by Werner March for the 1936 Summer Olympics. During the Olympics, the record attendance was thought to be over 100,000. Today, the stadium is part of the Olympiapark Berlin. Since renovations in 2004, the Olympiastadion has a permanent capacity of 74,475 seats and is the largest stadium in Germany for international football matches.

‘The Washington Post’ further stated that Windhorst had invested 374 million euros ($400 million) since 2019 on his dream of turning Hertha into a “big City club” but only ever saw the team fight relegation amid constant upheaval. Windhorst allegedly hired an Israeli detective agency to try and force Hertha’s previous President out, then also fell out with his successor.

The sale of Windhorst’s shares was approved by Hertha’s Supervisory Board and by the registered company behind the club. Financial details of the sale were not disclosed.

Hertha President Kay Bernstein said in a statement, “This strategic partnership helps us to further advance the restructuring process and the economic consolidation of Hertha BSC.”

The club retains the majority of the voting rights in keeping with German soccer’s 50-plus-1 rule limiting the influence of outside investors.

The American firm 777 already had stakes in the LaLiga Spanish club Sevilla FC, Serie B Italian club Genoa C.F.C., Campeonato Brasileiro Série A club CR Vasco da Gama of Brazil, Belgian First Division A club Standard Liège, Red Star F.C. of France, and Melbourne Victory FC of Australia.

Said Josh Wander, 777 Co-Founder, “Over the past few months, we have had the opportunity to learn about the rich history and culture that makes Hertha BSC so special, and we are looking forward to learning even more. It is a great honor to be a partner of one of the founding members of the Bundesliga. All of us at 777 are aware of the responsibility that comes with this honor, and our team stands ready to help wherever we can.”

Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.

Become a member of the only Global Sports Venue Alliance and connect with stadiums, arenas and experts from around the world. Apply for membership at coliseum-online.com/alliance and make use of the 365Coliseum Business.

Watch 250 member-exclusive videos with valuable tips for your venue