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Hamburg's Volksparkstadion holds around 57,000 spectators
Photo:
Gregor Fischer / dpa
Hamburger SV receives financial help from investor Klaus-Michael Kühne and other donors to enable the renovation and modernization of the Volksparkstadion.
As the club announced, there is a "million amount in the form of a loan" from this group.
HSV did not disclose the amount of the loan.
It is also unknown how large Kühne's share of the borrowed money is.
The total renovation and modernization costs, including the renewal of the 44,000 square meter roof membrane, are estimated at between 20 and more than 30 million euros.
"I can't influence the fate of the sport, but with my Kühne Holding I would like to help stabilize the structures so that HSV can start the second half of the season stronger.
I am very pleased that there are other supporters who are helping to achieve positive development, because a success story can only be written together,” said Kühne.
"We are pleased about this support from our shareholder and also about the special trust and the constructive exchange with our other lenders," said HSV CFO Eric Huwer.
HSV had already received money from the city
The construction work should be completed by the time of the 2024 European Championship finals, which will be held in Germany.
The European football association Uefa has made the stadium renovation a condition for playing five games in the arena.
The city of Hamburg had refused further support from the stadium owner HSV, in 2021 HSV received 23.5 million euros from the city for the sale of the stadium property - but this money flowed into the operational business of the second division club.
The Senate had assumed that the money would be used for the renovation.
It's not the first time that Kühne has helped out the traditional club.
The entrepreneur has acquired shares in HSV Fußball AG several times in the past and is now the second largest shareholder in the six-time German champions with 15.21 percent of the shares.
In the summer he made the club an offer to invest a further 120 million euros and increase its stake to 39.9 percent, but also made extensive changes according to his ideas a condition.
The club did not accept this offer.
mrk/dpa/sid
