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[ 23-01-2015 ]
Billionaire's cash injection to lead Hamburg out of crisis
Tycoon Klaus-Michael Kuehne has procured a 7.5 percent stake at previous European champions Hamburg SV in the wake of pumping in 18.75 million euros in venture furthermore stowed the stadium naming rights, the club said.
Hamburg, attempting to maintain a strategic distance from assignment in the past few seasons, has been stubborn by budgetary issues and a string of extravagant however unsuccessful exchanges.
"I am extremely upbeat that we could effectively wrap up our discussions about me turning into a shareholder," Kuehne said in an announcement. "I trust I can help turning Hamburg around."
Kuehne basically turned piece of his 25 million euro (Us$29.09 million) credit to Hamburg the previous summer that permitted them to sign Lewis Holtby, Swiss universal Valon Behrami and US worldwide Julian Green among others, into a stake in the previous German champions.
His speculation is not just a greatly required jolt for Hamburg, pushing back responsibilities for the obligated club, however a significant trust for the long haul eventual fate of the main Bundesliga club to never have played in the second division since the top association's creation in 1963.
The tycoon will likewise give the stadium its old name "Volksparkstadion" back from July 1, 2015 in the wake of securing the naming rights "at first" for a long time.
"For me as a Hamburg fan it was a matter of the heart that the home of the club has again its customary name," Kuehne said in a club explanation.
"I wish that the club can appreciate accomplishment at the Volksparkstadion like before.
Hamburg's stadium, presently called the Imtech Arena, was known as the Volksparkstadion until 2001.
"We are proceeding with our monetary merging with this move and have arrived at a vital breakthrough," Karl Gernandt, Hamburg football board administrator, told journalists.
"We will keep working so Hamburg can win back its capacity to be focused on all levels in the Bundesliga."
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