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Klaus-Michael Kühne
Photo: Axel Heimken / dpa
Despite missing out on promotion again, second-division soccer club Hamburger SV will receive a further 30 million euros from investor and AG shareholder Klaus-Michael Kühne through his holding company. "This special commitment of Kühne Holding AG in the best interest of the club guarantees sustainable development, increases financial agility and contributes with foresight to the effective risk provisioning of our HSV," said CFO Eric Huwer in a statement from the club on Tuesday cited.
In April, Kühne Holding had already reached an agreement with the board of directors of HSV Fußball AG on a 30-million-euro convertible bond. This loan can later be converted into further shares in the AG.
"It would be desirable if capital inflows were to take place on a larger scale from various sides," Kühne was quoted as saying in HSV's statement: "That is the reason why we have subscribed to a convertible bond in a considerable amount in order to encourage others to follow suit." Currently, multi-billionaire Kühne (86) owns 15.21 percent. A total of 24.9 percent may be sold, the remaining 75.1 percent of the AG shares are held by HSV e.V.
Part of the money will go to the squad
Kühne's latest offer had already been unanimously approved by the Supervisory Board. On Tuesday, the other shareholders of HSV Fußball AG followed suit at an extraordinary general meeting.
The board of directors with the sports manager Jonas Boldt and Huwer decide on the use of the funds. Only part of the funds will be invested in the team. The goal remains to finally make a return to the Bundesliga at the sixth attempt next season.
Most recently, the club made it into the relegation. There, however, it suffered two clear defeats against VfB Stuttgart, 1:6 in the end. No second division club has ever been so clearly defeated in the relegation play-offs, which have existed again since 2009.
jok/dpa