Thursday 17th June 2021
Hertha strives for harmony
Windhorst is apparently skimpy on payments
The Bundesliga soccer team Hertha BSC missed the sporting goals, the investor Lars Windhorst missed payment dates for it. Although things are not going smoothly, both sides deny rumors. The capital club is apparently still waiting for 65 million euros.
Millions investor Lars Windhorst and Hertha managing director Carsten Schmidt have vigorously denied reports of serious dissonances between the donor and the Berlin Bundesliga club. “The basis of our cooperation is the fact that we talk to one another, not about one another. Public speculations about the rifts between the two partners Hertha BSC and Tennor in terms of contractual procedures are completely unfounded,” said Windhorst and Schmidt in a joint statement.
Previously, the “Manager Magazin” and “Der Spiegel” reported that there could be a rift between the investor and the Bundesliga club due to the outstanding final installments totaling 65 million euros. Accordingly, if the installments were not paid on time, Hertha would have the option of selling shares to another investor at the end of June, beginning of July and in August.
Schmidt, as Hertha’s chief managing director, and Windhorst himself opposed this. “Both sides agree that Tennor’s commitment to Hertha BSC is long-term. This conviction and mutual trust make up the quality of the cooperation,” it said. “Our contract will be fulfilled as it was discussed and negotiated. There is no dissent,” assured Windhorst and Schmidt.
There were also “irritations”
Schmidt and Windhorst also admitted that things did not always run smoothly between the contractual partners. “Irritations that occurred in phases were resolved internally in a constructive manner. Above all, however, they do not endanger the entire project, which we still believe to be successful,” the statement said. Despite the investments in previous seasons, Hertha had played against relegation instead of for a European cup.
Windhorst, who acquired 49.9 percent of Hertha BSC GmbH & Co. KGaA in 2019 for 224 million euros, currently holds 66.6 percent of the Bundesliga club’s professional company. For the increase, the investor had promised a further 150 million euros in summer 2020, but initially only paid 50 million euros. In autumn, the association and Windhorst’s company Tennor agreed on an installment payment.
As the “Spiegel” reports, Windhorst did not comply, he owed the capital club a good 100 million euros. Both sides are said to have agreed on a new installment plan by April 2021. Apparently Windhorst did not stick to it either. At the end of January, a good 85 million euros should have been open.
Only when the association legally threatened him in April that he would seize the shares he had previously acquired did 20 million euros flow in at the end of May, according to “Spiegel”. The club leadership is said to have accepted another postponement. Windhorst has until August 15 for the remaining 65 million euros in two tranches.