Hertha Berlin have announced that 777 Partners are their new strategic partner after buying the shares previously owned by Lars Windhorst’s Tennor Holding company.
Kicker reports that this will result in a €100 million cash injection into Hertha that they will receive over the next two years. The first instalment will be slightly less than €35 million.
However, this injection of money will not stop sales of players as Hertha wish to reduce the cost that some of the players have on the club. The number one candidate to leave is likely to be Dodi Lukebakio whose current contract expires in 2024.
777 Partners already has a multi-club portfolio including Sevilla (Spain), Genoa (Italy), Vasco da Gama (Brazil), Standard Liège (Belgium), Red Star FC (France) and Melbourne Victory (Australia).
On the sale, Hertha president Kay Bernstein said: “This is a future-oriented step for Hertha BSC. We would like to thank Josh Wander for his belief in Hertha BSC. This strategic partnership will help us to continue the restructuring process and economic consolidation of Hertha BSC. We are pleased to welcome 777 Partners to the Hertha family. We owe our thanks to our managing director Thomas Herrich and his team. We are looking forward to working together with our new partner and want to make a positive impact on the future of Hertha BSC.”
Hertha are currently 15th in the Bundesliga after their 1-1 draw with Mainz on Saturday. They had initially taken the lead through a Jessic Ngankam penalty before Ludovic Ajorque equalised in the 57th minute.
GGFN | Jack Meenan