"A great day for Hertha BSC"
The discussions had been ongoing for a while, but the ink is finally dry and both parties were pleased to be able to announce that 777 Partners have become a new shareholder of Hertha BSC. “It’s a great day for Hertha BSC and our future,” Kay Bernstein said during a press conference on Monday. Joining our president on the podium was Josh Wander, the CEO of 777 Partners, and our managing director Thomas E. Herrich. The trio commented on topics such as the importance of the partnership to the club and the investment group from Miami, how the cooperation will be structured and joint aims. “We now want to restructure ourselves, get back to basics and leave the megalomania from recent years in the past,” said Bernstein.
Wander, meanwhile, spoke about being excited about what he’s seen in Berlin so far. “We have been able to see for ourselves how much Hertha means to people and how much passion they invest in the club. We respect that and want to do our part to ensure the club perform to their fullest potential, both on and off the pitch. Our aim is to help finance long term and sustainable structures,” the 41-year-old said. Herrich built on this point, adding: “The investment is a key building block and an important step for our future. We want to consolidate our club with the help of passion, patience and hard work. We are realists and won’t go chasing after daydreams.”
Read on for all the key quotes from today’s press conference.
…on the partnership: Today is a great day for Hertha BSC and our future. The many discussions we held were transparent and on an equal footing. We now want to restructure ourselves, get back to basics and leave the "Big City Club" label in the past, along with the megalomania from recent years. The whole club just wants things to settle down. We're looking forward to calmer times, particularly as we've got important tasks ahead – women’s football, the stadium and the statutes commission. We want to benefit from the network and expertise that 777 Partners bring to the table. It’s about aligning ourselves and asking the question of whether we have made the best possible decision for Hertha. We take the comments and concerns from some of our members seriously, but also have to meet the responsibility we have for the club as a whole and grow closer as a result. Like I said several months ago, we will only be able to do it together.
…the intentions behind the investment: We are extremely excited to finally be able to announce this partnership and to become part of a club with such a rich history. It was a long road but we would like to thank everyone at the club, as well as the fans, for their patience. We have been able to see for ourselves how much Hertha means to people and how much passion they invest in the club. We respect that and want to do our part to ensure the club perform to their fullest potential, both on and off the pitch. That’s why we will invest €100 million. More important than this figure, however, is how we use this money. Our aim is to help finance long term and sustainable structures. It’s an unusual responsibility that we want to meet. We can’t wait to get started!
…working together with the 777 Partners network: We don’t have a hierarchy within our network. We want to preserve the club's independence and long history – its legacy and the passion of the fans is important. We are here to help all clubs in different ways to make them more successful. There are many possible synergies between the clubs that we have invested in. If we’re able to provide expertise in certain areas then we’re able to give each club new possibilities, both financially and substantially. We are extremely rational people and know that our joint path forward could see some rough patches. Based on our multi-club platform, with its shared knowledge, resources and networks, we’re confident that we will be able to provide Hertha BSC with individual growth. We will do everything we can in order to ensure this.
Thomas E. Herrich
…on the financial impacts of the agreement: Today is a great and special day for Hertha BSC. The negotiations on the content of the agreement were intense and done with the best interests of the club and its members in mind. A special thank you goes to 777 Partners for their commitment to Hertha BSC, regardless of which league the club finds itself in. We can use the funds to reduce liabilities, which are a key building block of the licensing process. We want to consolidate our club with the help of passion, patience and hard work. We are realists and won’t go chasing after daydreams, but will instead only focus on things that will make us successful in a sustainable, long-term manner. It’s a marathon, not a sprint, like Kay previously said, and we’re on a good path. The synergies that 777 Partners bring to the table will help us. We go into this partnership on level footing.