January 31, 2014 / 1:50 PM / in 4 years

KKR invests in German soccer club Hertha BSC -source

FRANKFURT, Jan 31 (Reuters) - Buyout group KKR has struck a deal to take a roughly 10 percent stake in Berlin’s top soccer club Hertha BSC, a source familiar with the transaction said on Friday.

KKR will invest around 60 million euros ($81.38 million) in total plus take steps to strengthen Hertha’s finances and to buy back some marketing and catering rights that the club sold to plug holes in its balance sheet, the source said.

KKR will not try to influence sport-related issues such as engaging players, the source added.

“The purpose of the deal is to professionalise Hertha BSC’s business and catch up with Bayern Munich and Borussia Dortmund ”, the source said.

KKR declined to comment.

A spokesman for Hertha BSC, which ranks seventh in Germany’s premier league, also declined to comment.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below