A few days before the annual general meeting, Hertha BSC announces a loss of millions. The equity is shrinking, the way with investor Lars Windhorst seems as good as over. The new President Kay Bernstein sees the Bundesliga club facing a huge challenge.
In view of another loss of millions, Hertha President Kay Bernstein has called on fans and members of the Berlin Bundesliga team to show great solidarity. “The published figures for the 21/22 annual financial statements can only be described in one word: Challenging! The new executive committee has to cope with one of the most difficult tasks in the history of our traditional club due to this legacy,” Bernstein wrote on Twitter.
According to the Berliners, they ended the 2021/22 season with a loss of 79.75 million euros. The equity capital shrinks to 29.5 million euros, according to documents published on the association’s website. Bernstein sees the club before a tour de force. “But we are the Berlin Sport-Club Hertha from 1892, we have endured and survived so much together. We can only walk this path together – by standing firmly together, trusting each other and making sacrifices where it is possible.” demanded the new club boss, who has been in office since June.
“With the newly formed management we will manage it. One thing is clear: this path will be a marathon and not a sprint. Let’s fight for the future together and adapt our expectations to reality,” wrote Bernstein. The financial situation should be a big topic at the annual general meeting on November 13th.
In the past three years, Hertha had received a total of around 375 million euros from investor Lars Windhorst. The Berliners are currently in a dispute with the financial entrepreneur about alleged spying on ex-President Werner Gegenbauer. Windhorst had offered to resell his Hertha shares. It seems impossible that fresh money from the investor could help offset the losses.
