Hamburg SV have announced an investment deal with Klaus-Michael Kühne worth €30m, Kicker reports.
Klaus-Michael is a German billionaire businessman native to Hamburg. His company, Kühne, may sound familiar to most as they produce mustard, pickles, and dressings, most of which can be found in supermarkets all throughout Europe.
Despite another loss in the Relegation Play-off this season, this is clearly a statement of intent by HSV. The €30m investment will go a long way to attracting new players and ensuring that the team are in and around the promotion spots once again in the 2023/24 season.
The €30m loan will have to be paid back by the end of 2028. Should the club get promoted, you feel paying back the loan should be no problem. However, should they not, the money from Kühne goes into further shares at the club.
Hamburg CFO Dr Eric Huwer welcomed the news: “This special commitment by Kühne Holding AG in the best interests of the club guarantees sustainable development to a large extent, increases financial agility and contributes to the effective risk prevention of our HSV.”
He continued: “We have developed a good starting position on which we are not resting. On the contrary, we are already taking targeted account of the scenarios and dynamic challenges that are coming our way. With the commitment of Kühne Holding AG, we are increasing our performance while adhering to economic discipline.”
GGFN | Jamie Allen