BERLIN (AP) — Miami investment group 777 Partners has completed the acquisition of 64.7% of the shares of Hertha Berlin.
The German club said on Saturday that 777 had acquired the shares belonging to the investment group of Lars Windhorst, who said in October that he wanted to sell his stake after a break in relations with the club.
Windhorst has invested 374 million euros ($400 million) since 2019 and dreamed of turning Hertha into “a big city club,” but only saw his team fight against adversity and not be relegated.
Windhorst allegedly hired an Israeli detective agency to try to force out the club’s previous president, but also had a falling out with his successor.
Hertha’s supervisory board and the company behind the club approved the share advantage. Financial details of the sale were not disclosed.
“This strategic partnership will allow us to move forward in the reconstruction process and in the economic consolidation of Hertha BSC,” club president Kay Bernstein said in a statement.
The club retains the majority of voting rights due to the 50+1 German soccer rules limiting foreign influence.
The American 777 has rights to Sevilla in Spain, Genoa in Italy, Vasco de Gama in Brazil, Standard Liege in Belgium, Red Star FC in France and Melbourne Victory in Australia.
