Hertha BSC expects a statement from Lars Windhorst. It’s about the allegations that he organized a campaign against then-President Gegenbauer.
On Friday evening, each of the more than 41,000 Hertha members received an email. In it, the undersigned Presidium explained in three sentences that the association bodies had decided to end the processes an article that appeared in the Financial Times, “to be processed and assessed by a law firm”. In addition, Windhorst’s company Tennor was “requested to provide a detailed statement”. At the latest after receiving this message, pretty much every Hertha member will have realized that the last few weeks, which have been a bit quieter, should be over for the time being.
Joint press conference by Bernstein and Windhorst postponed
Windhorst and the new President Kay Bernstein were scheduled to appear next Tuesday. It was to take stock of Bernstein’s first hundred days as President, together. This date, which was certainly intended to express unity, has now been postponed to an unspecified date in the future. But in view of the allegations leveled against Windhorst, the question arises as to whether there can and will still be a future together.
Hertha BSC has allegations against investor Windhorst checked by the law firm
Hertha BSC wants to work up the allegations that investor Lars Windhorst should have discredited ex-president Werner Gegenbauer with a campaign. The association has commissioned a law firm to assess the events.more
Windhorst’s spokesman Andreas Fritzenkötter described the allegations to rbb|24 as “complete nonsense”. In the meantime, Windhorst reported to a Facebook group and also wrote there about “nonsense” and criticized the lack of respect from the club. According to “Kicker”, he should make an affidavit to Hertha BSC by Monday. Will the 45-year-old succeed in dispelling the allegations or will there be a big break? And what would be the consequences then? How could Hertha BSC continue to work with a man accused of organizing a character assassination campaign against a former president?
Exclusion from the club is possible in the event of grossly damaging behavior
Paragraph 29 of the Hertha BSC statutes states that expulsion from the club is only possible in the event of “grossly damaging behavior to the club, serious intentional violations of the statutes, particularly serious, unsportsmanlike or uncomradely behavior or if there are corresponding decisions by the Executive Committee or the department head”. can be imposed. A reputation-damaging campaign against the then President Werner Gegenbauer could certainly be assessed in this way. The Herthas three-person association court, presided over by the Berlin lawyer Arnd Barnitzke, would have to decide.
Windhorst would then possibly no longer be a member of the registered association. For many critical fans, that would be a symbolic step of value that should not be underestimated. Regardless of this, Windhorst would continue to hold his shares in Hertha KGaA. It’s hard to imagine that Hertha would find a way to buy back these shares. In 2018, Hertha BSC paid out the then investor KKR after four years together. At that time, the majority of the 71.2 million euros had been raised via a euro bond.
In the current difficult economic situation and in view of the overwhelming sum of 375 million euros, however, a buyback currently seems unrealistic. This left two options: Windhorst would find a buyer himself, to whom he would sell his shares, or he would continue to be a shareholder, including the associated rights and items.
Hertha investor Windhorst is said to have commissioned a campaign against Gegenbauer
Hertha investor Lars Windhorst is said to have discredited ex-president Werner Gegenbauer in the power struggle at the time with a targeted campaign. Windhorst’s spokesman denied.more
Windhorst may place four people on the supervisory board
Windhorst is allowed to provide four of the nine seats on the KGaA’s supervisory board. At the moment he is only using three of these places with the media entrepreneur Georg Kofler, Tarek Malak from the Tennor Group and the lawyer Thomas Werlen. Jens Lehmann lost fourth place after allegations of racism after a Whatsapp message to former professional Dennis Aogo. Windhorst has left this position vacant since May 2021. The supervisory board has a controlling function, but no far-reaching opportunities for co-determination.
The advisory board, on the other hand, has to approve a whole range of transactions, such as the annual budget and transactions of over 25 million euros. Windhorst resigned from his position on the advisory board in March and staffed it with a representative. “Unfortunately, after a few months, I realized that under the leadership of Mr. Gegenbauer, it is very, very difficult to achieve something together as a team, to discuss something, to cooperate,” said Windhorst at the time. He does not have a majority on the Advisory Board.
The option of the right to collect is ruled out
In stock corporation law, in the event that shareholders have fallen out, there is the option of a right to withdraw. A shareholder can then collect the shares of another if a trusting cooperation is no longer possible. Shares would be valued by a court appointed appraiser. In Hertha’s case, it was certainly well below the 375 million euros that Windhorst had paid. However, a “statutory basis” is required and this cannot be found in the statutes of Hertha BSC KGaA. This legal back door of legally separating from Windhorst is therefore out of the question.
As Windhorst at the general meeting at the end of May, he was initially booed and verbally abused by some of the members present. When he was able to make himself heard after a few minutes, he emphasized in an outwardly relaxed manner that he had come to stay: “Whether most people like it or not: I’m here as the majority owner. Windhorst out – that doesn’t actually work. You can vote me out and my shares are not for sale. And I will stay for many years to come.” It could be a tough year – for both sides.
Broadcast: rbb24, September 30, 2022, 9:45 p.m
