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US firm agrees to buy stake in German soccer team Hertha

KIFI

BERLIN (AP) — A U.S. investment firm has agreed on a deal to buy investor Lars Windhorst’s majority stake in Bundesliga soccer club Hertha Berlin. Miami-based 777 Partners says it agreed to buy the 64.7 percent stake in Hertha’s company structure from Windhorst’s firm Tennor. The sale is subject to approval from Hertha’s board and the league. Windhorst owns a majority share of the Hertha company but his voting rights are restricted under the Bundesliga’s 50+1 rule to limit the influence of outside investors. The rule means club members must retain a majority of voting rights.

Article Topic Follows: AP National Business

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Associated Press

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