Miami-based 777 Partners takes 64.7% stake in Hertha Berlin
Augsburg's Kelvin Yeboah, left fights for the ball against Hertha's Agustin Maximiliano Rogel Paita during a German Bundesliga match between Hertha BSC Berlin and FC Augsburg in Berlin, Germany, Saturday, Feb.25, 2023. Soeren Stache/dpa via AP)[ASSOCIATED PRESS/Soeren Stache]
BERLIN (AP) — Miami-based investment group 777 Partners has completed its 64.7% majority stake takeover of Hertha Berlin. The German soccer club says 777 has acquired the company shares previously owned by Lars Windhorst’s investment group. Windhorst had invested 374 million euros ($400 million) since 2019 on his dream of turning Hertha into a “Big City Club” but only ever saw the team fight relegation amid constant upheaval. Hertha said 777 will receive two seats on the five-member supervisory board and two seats on the company’s advisory board. The club retains the majority of voting rights in keeping with German soccer’s 50-plus-1 rule limiting the influence of outside investors.
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