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Hertha BSC is worried about Windhorst millions

2021-06-20T20:21:33.217Z

The investor Lars Windhorst joined Hertha BSC two years ago with great promises. Meanwhile, the club is waiting longer and longer for the payment of the 65 million euros that are still due - and threatens to seize the shares.



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Hertha investor Windhorst: Critics had already warned at the start

Photo: Andreas Gora / dpa

The Berlin soccer club Hertha BSC once again has to wait for millions in payments from its major investor Lars Windhorst.

For the missing 65 million euros, the financial investor has received a further deadline extension to August 15 after various delays - originally it had been said that the money would be in the account of the first division club by June 30.

Windhorst, first German Wunderkind and later dotcom bankrupt, joined Hertha in 2019 through his Tennor Holding.

For 224 million euros, he acquired a good 50 percent of the shares in the professional department of the club, an agreement stipulated that Windhorst would pay a further 150 million in installments by October 2020, increasing it to 66.6 percent.

Nothing came of that, Windhorst owed a good 100 million.

Both sides agreed on a new installment plan until April 2021. However, according to information from SPIEGEL, Windhorst did not adhere to that either.

He transferred a partial amount, but a good 85 million euros were still open in January.

Only when the association threatened him legally in April to seize the shares he had previously acquired did 20 million flow in at the end of May.

The club superiors took the opportunity to agree to a further delay.

Windhorst now has to transfer the remaining 65 million in two tranches on July 1st and August 15th - otherwise, the seizure of his shares threatens.

The situation is unfortunate for the club: Critics had already warned against getting involved with the windy investor when they joined the company.

Now, in the management team, scenarios are evidently being played out as to how Hertha should react if Windhorst does not want to or cannot pay.

A spokesman for Windhorst announced that they are generally not taking a public position on contract details.

The financial commitment at Hertha had "never been in question", there had been "certain irritations of the partners in dealing with each other", but the contract would be "fulfilled, as discussed, negotiated and agreed by both sides."

At Hertha it says: »We generally do not comment on contract details.

Our currently valid payment agreement is fault-free and we assume that the agreements made will be fulfilled. "

Source: spiegel

All business articles on 2021-06-20

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