Kühne lures HSV with 120 million and Uwe-Seeler-Stadion

Kühne lures HSV with 120 million and Uwe-Seeler-Stadion

Kühne Holding AG offers HSV Fußball AG “financial support of EUR 120 million”. A message that was like a bang on Thursday afternoon – and which was published just one day before the Supervisory Board meeting on Friday, in which Thomas Wüstefeld wants to present his financial plan for the stadium renovation. Billionaire and shareholder Klaus-Michael Kühne throws the rescue package at HSV. But his conditions are tough.

Because the offer, which is worth millions, is linked to a “10-point program for renovation” by HSV. The contents of the program are tough, because they would not only extensively restructure the club – the deal would be almost like a takeover by the 85-year-old entrepreneur.

Kühne offers 120 million euros and wants more shares

The Kühne Holding offers new equity of up to 60 to 80 million euros, which could be put into the stadium renovation, debt reduction and strengthening the team, but has a tough requirement: Kühne wants to rearrange the distribution of shares, his shares in the future to 39 .9 percent (previously 15.21 percent), while HSV eV would only hold 50.1 instead of 75.1 percent of the shares.

Because the AG has only been allowed to sell 24.9 percent so far, a structural reform would be necessary, which could only be decided by the members of the association (by a three-quarters majority). Therefore, “an extraordinary general meeting should be convened as soon as possible,” says program item four.

“Uwe-Seeler-Stadion”: Kühne attracts HSV members

A move with which Kühne could try to get the members on his side can be found under point seven: According to this, his company would undertake “to acquire the naming rights to the previous Volksparkstadion for a period of ten years” – and the same in “ Uwe-Seeler-Stadion” to be renamed. For this, the holding company would pay a total of 30 to 40 million euros to Fußball AG for a period of ten years.

Kühne wants to have a say in every important decision, because in return for what he offers, he also demands the formation of a “standing committee” that is to decide, among other things, on the “staffing of committees”. In addition, the billionaire wants his holding company to be able to send two representatives to the supervisory board of HSV Fußball AG, HSV eV may also send two, and a fifth “neutral” controller “with sporting expertise” should be jointly selected.

Kühne wants two representatives on the HSV supervisory board

Bold endeavor according to point eight: staff the supervisory board and executive board in such a way that the AG is “managed properly, competently and success-oriented”. Kühne recently made it clear in the “Abendblatt” how he should speak to CFO Thomas Wüstefeld. There he expressed his hope that Wüstefeld, whose CaLeJo GmbH had acquired around five percent of the Kühne shares last year, “at HSV soon be history”.

It is all the more explosive that Kühne’s renovation program has now become public, just one day before Wüstefeld wants to inform the regular Supervisory Board meeting on Friday about what the financing model for the renovation of the Volkspark Stadium, announced ten days ago, looks like. In this respect, the board of directors had declared that they were “on the home stretch” and announced a partner and new debt of around 20 million euros. Wüstefeld has to deliver in order to strengthen his position – and goes into the meeting with confidence, which should not least deal with the topic of further transfers.

Reorganization: Wüstefeld presents the financial plan

According to reports, the board members hope to be able to invest at least 2.5 million euros of the recent additional income in reinforcements. Before the meanwhile perfect transfer of Amadou Onana – which alone brought more than five million euros into the HSV coffers – Wüstefeld confirmed that he would support further signings. Together with sports director Jonas Boldt, he wants to present the transfer concept to the council on Friday.

Now the meeting will certainly also talk about Kühne’s offer. Wüstefeld is said to have had no prior knowledge of the content of the program, which he is said to have seen for the first time in the evening – and which, last but not least, is also directed against him.

He could not be reached for a statement by MOPO on Thursday evening before the editorial deadline.