Deal changed, money comes later: There is a crackling between Windhorst...

Thursday, November 05, 2020

Hertha BSC and investor Lars Windhorst have changed their deal. Possibly also because there are differences in the strategic direction of the Bundesliga club. Everything still seems amicable, but different points of view are becoming increasingly clear.

It crackles behind the scenes. Hertha BSC and investor Lars Windhorst have agreed on a new schedule for the payment of the last 100 million euro tranche, which, according to Hertha, would have been due by October 30th. Everything still seems amicable, but increasingly different points of view are becoming clear. “Hertha BSC and Tennor Holding BV have agreed on a new payment plan for the payment originally agreed for October in the amount of 100 million euros,” said Hertha at the request of the sports information service.

However, it is certain that “the entire amount will flow into Hertha BSC GmbH and Co. KGaA within the current financial year,” explained the club, thereby partially confirming a report by “Sport Bild”. Tennor himself commented a little differently on the agreement. “We can confirm that there is now an agreement on a payment plan,” said the company. Apparently Tennor was convinced that a payout didn’t necessarily have to come by October 30th.

In the summer it became known that Windhorst is pumping a further 150 million euros into the capital city club through his company, after having previously invested 224 million euros. The first 50 million were due immediately, the other 100 million euros should flow according to the club by the end of October – nothing came of it now. Whether different ideas about the use of the money are the reason for the late payment remained open. Hertha is not only investing the money in the team, but also wants to pay off debts. Loss of income due to Corona should also be compensated, which the club estimated at almost 60 million euros for the period up to summer 2021.

Mr. Lehmann does not speak for Hertha BSC

Even those who thought that Hertha would go on a big shopping spree in the summer were mistaken. The future “Big City Club” (Windhorst) only spent around 30 million euros on new players, and proposed reinforcements for midfield and outside lanes have been canceled. Trainer Bruno Labbadia also took note of the purchasing policy with a grumble. Perhaps the 54-year-old suspected what was happening now.

After six games, his team is 14th in the Bundesliga with just four points and is far from European places. Tennor had specified this as the goal. Former national goalkeeper Jens Lehmann, who was appointed to the Hertha supervisory board by Windhorst, declared: “The goal is clear to everyone at Hertha BSC. And that means qualification for the European competition.”

Hertha’s President Werner Gegenbauer vigorously opposed this request. “Mr. Lehmann also speaks as an advisor to Tennor about and not for Hertha BSC”, Gegenbauer made clear. Europe is also the goal of those responsible at Hertha BSC, but it is a “medium-term goal”. As of December, Hertha will get a new CEO in the former Sky boss Carsten Schmidt, who, as chairman of the management board, will nominally also head sports director Michael Preetz. Perhaps the investor is hoping for more investments in new players through this personnel and thus an early move into European business.