777 Partners becomes new strategic partner of Hertha BSC
777 Partners have become a new shareholder of Hertha BSC GmbH & Co. KGaA. The private investment firm with headquarters in Miami has quickly built up a global, multi-club network which includes several long-standing football clubs such as Italy’s Genoa, Brazil’s Vasco da Gama, Belgium’s Standard Liège, France’s Red Star FC, Spain’s Sevilla FC and Australia’s Melbourne Victory FC. 777 Partners have acquired all shares in Hertha BSC GmbH & Co. KGaA that were previously owned by Peil Investment B.V., a subsidiary of Tennor Holding B.V. (64.7%).
The presidential board of Hertha BSC e.V., which as the continued sole sharehold of Hertha BSC GmbH & Co. KGaA appoints its executive board, have agreed to this step, along with the supervisory board of Hertha BSC e.V. and the advisory board of Hertha BSC GmbH & Co. KGaA. 777 Partners will receive two seats on the supervisory board of Hertha BSC & Co. KGaA, which will now be made up of five members. 777 Partners will also acquire two seats on the advisory board.
“This is a future-oriented step for Hertha BSC. We would like to thank Josh Wander for his belief in Hertha BSC. This strategic partnership will help us to continue the restructuring process and economic consolidation of Hertha BSC. We are pleased to welcome 777 Partners to the Hertha family. We owe our thanks to our managing director Thomas Herrich and his team. We are looking forward to working together with our new partner and want to make a positive impact on the future of Hertha BSC,” said Kay Bernstein, president of Hertha BSC e.V.
Josh Wander, founder and CEO of 777 Partners, said: "In the past few months we have had the opportunity to learn about the rich history and culture that makes Hertha BSC so special, and we are looking forward to learning even more. It is a huge honour to partner with a founding member of the Bundesliga. All of us at 777 know the responsibility that comes alongside this honour and our team is ready to help wherever we can. Our top priority is working together with the club and its leadership to secure Hertha’s long-term success on and off the pitch. We have great respect for the manner in which football is structured in Germany and are looking forward to working together with all those involved in order to help Hertha fulfil their full potential. I would like to thank Kay and Tom for their thoughtfulness during the process which enabled us to align ourselves together towards joint goals and a shared vision for the future. Ultimately, we want what everyone wants: To bring sustainable success to Hertha BSC. We can hardly wait to start working together."
Thomas E. Herrich, managing director of Hertha BSC GmbH & Co. KGaA said: “We are pleased that with 777 Partners we are gaining a partner who, as a financial investor in a number of areas, also has a great expertise in professional football. We will be able to profit from this. The expansion of this involvement gives us security in planning for the future and consolidating Hertha BSC with lots of hard work, passion and humility in sporting, as well as economic areas. My thanks go to 777 Partners for the professional and trustworthy conversations in the last few weeks and all those involved in bringing this partnership into fruition.”