Hertha and fans consider repurchasing shares from 777 Partners

Hertha, a storied club with a passionate fan base, find themselves at a crucial crossroads. Now that its US investor, 777 Partners, has gone bankrupt, the club and its fans have a chance to take control of the team’s destiny again. As the financial turmoil of 777 Partners intensifies, the question arises: can Hertha break […]

Hertha, a storied club with a passionate fan base, find themselves at a crucial crossroads. Now that its US investor, 777 Partners, has gone bankrupt, the club and its fans have a chance to take control of the team’s destiny again.

As the financial turmoil of 777 Partners intensifies, the question arises: can Hertha break free from decades of financial dependency and take ownership of its destiny?

The answer may lie in a combination of fan-driven initiatives and local investor alliances, drawing on lessons from other clubs that have faced similar challenges.

The financial crisis engulfing 777 Partners, a US-based investment firm, has put Hertha BSC’s future in limbo. The company, burdened with debt reportedly as high as $5bn, is under pressure from creditors to liquidate assets, including its majority stake in Hertha. This situation presents both a challenge and an opportunity for the club.

Hertha currently hold a pre-emption right, meaning they can potentially buy back the shares if 777 Partners decides to sell.

However, the club is in a precarious financial situation, struggling with a $44 million debt due in November 2025, and lacks the liquidity to purchase the shares outright.

Despite this, the club’s interim president, Fabian Drescher, has made it clear that reclaiming ownership is a priority. He told rbb24, “If it comes to the point where there are opportunities to get shares again, then it is our job to check internally how Hertha can regain majority ownership or, ideally, 100 percent ownership of the shares.”

Cooperative model for ownership

Amidst the uncertainty, Hertha’s fans are…

Source link : https://worldsoccertalk.com/news/hertha-and-fans-consider-repurchasing-shares-from-777-partners/

Author : Martina Alcheva

Publish date : 2024-08-17 13:30:50

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