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Frank Baumann has been managing director at Werder for eight years

Photo: Carmen Jaspersen/dpa

Werder Bremen has found an investor.

A regional alliance of entrepreneurs and private individuals has come together to take over shares in the spun-off corporation (KG).

Managing director Frank Baumann, who is leaving in the summer, is among others part of this investor alliance.

The plan involves a sum of 38 million euros.

“The funds provided increase our equity and give us greater economic ability to act,” managing director Klaus Filbry was quoted as saying in the statement.

The “Deichstube” had previously reported on it.

The club, which was in financial distress during the Corona period, had been looking for donors for a long time.

The club is still plagued by high liabilities of around 37 million euros.

This is one of the reasons why Niclas Füllkrug was sold to Borussia Dortmund in the summer for supposedly just under 15 million euros.

The last financial year ended with a loss of 3.8 million euros.

Investors do not get any operational influence

The regional alliance's commitment is long-term.

A possible resale of the shares is subject to “time and legal restrictions,” and Werder also has a right of first refusal at any time, it said in a statement.

The investor solution should be compatible with the critical attitude of the organized Werder fans.

According to the announcement, the regional association will receive 18 percent of the shares in the KG.

“We have had a guarantee that the strategic partner will not have any influence on the operational business,” said Filbry: “This investment does not guarantee us that we will play internationally with Werder in the next few years.

But this step will give us a real boost in all areas." The focus is "on investing in young, talented players in order to create sustainable value for Werder Bremen."

In addition to Frank Baumann, the supporters include Harm Ohlmeyer and Kurt Zech, a current and a former member of the supervisory board.

The regional alliance receives two supervisory board mandates.

Jens Christophers and Arnd Brüning will fill these positions.

Baumann, a long-time Bremen player and double winner in 2004, has announced his departure this summer after eight years as managing director.

ast/dpa