Billionaire Klaus-Michael Kühne is once again giving a lot of money so that his heart club Hamburger SV is finally promoted to the Bundesliga again. The club receives a loan of 30 million euros.
Despite missing out on promotion again, second division soccer team Hamburger SV will receive a further 30 million euros from investor and AG shareholder Klaus-Michael Kühne via his holding company.
“This special commitment by Kühne Holding AG in the best interest of the club guarantees sustainable development, increases financial agility and contributes to the effective risk prevention of our HSV with foresight,” CFO Eric Huwer was quoted as saying in a statement from the club.
Back in April, Kühne Holding agreed with the board of directors of HSV Fußball AG on a EUR 30 million convertible bond. This loan can later be converted into further shares in the AG. Multi-billionaire Kühne (86) currently owns 15.21 percent. A total of 24.9 percent may be handed over, the remaining 75.1 percent of the AG shares are held by HSV eV
Other shareholders followed suit
The supervisory board had already approved Kühne’s latest offer. The other shareholders of HSV Fußball AG followed suit at an extraordinary general meeting.
The board with Jonas Boldt, who is responsible for sports, and Huwer decide on the use of the funds. Only part of the funds should be invested in the team. The goal remains to finally make it back to the Bundesliga at the sixth attempt next season.
2023-06-13 21:03:29
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