Boutique investment firm 777 Partners has reached an agreement to acquire a majority stake in Hertha BSC, one of Germany’s oldest soccer clubs, people familiar with the deal said. Sports.
The Miami-based firm is buying a 64.7% stake in Tennor Holding BV, the holding company of German investor Lars Windhorst, the people said. This 64.7% investor share is equivalent to 49% of the club’s voting shares, the maximum allowed for outside investors under the rules of the German Football League.
“We are excited to have the opportunity to partner with Hertha BSC and look forward to engaging with the club and its stakeholders,” Josh Wander, founder and managing partner of 777, said in a statement Wednesday night. “As a founding member of the Bundesliga, Hertha BSC is one of the most important and historic football clubs in Germany.”
Hertha is the fifth soccer club that 777 Partners has acquired majority ownership this year. The company has built a multi-club network with Genoa CFC in Italy, Vasco de Gama in Brazil, Standard Liege in Belgium and Red Star FC in France. Additionally, 777 has minority stakes in Sevilla FC in Spain and Melbourne Victory in Australia.
In 2019, Windhorst bought a 37.5% stake in Hertha at a valuation of $383 million. It later invested another $172 million and raised its stake to 64.7%.
“The sale to 777 Partners is an excellent solution and we are very pleased with this result,” Windhorst said in a statement. We are selling our Hertha shares to a well-known international football investor who believes in the multi-club ownership model and is actively developing it successfully around the world.”
Founded in 1892, Hertha BSC, commonly known as Hertha Berlin, is currently ranked 16th in the Bundesliga top division. The team has won the German championship twice in its history.
(This article has been updated in the third and sixth paragraphs with statements from Josh Wander and Lars Windhorst.)