German billionaire Klaus-Michael Kuehne has acquired a 7.5 per cent stake in Hamburg SV, along with securing the naming rights to the Bundesliga football club’s home stadium.
Kuehne, who was born in Hamburg, has paid €18.75m ($23.25m) for the stake – a boost to the club which has been enduring financial difficulties of late.
Dutch technical services provider Imtech is the current naming rights partner for Hamburg’s stadium, but has been seeking to withdraw from the commitment.
Hamburg’s 57,000-seat home has been known as the Imtech Arena since 2010. Imtech’s current deal with Hamburg is reportedly worth €4.2m per season and was scheduled to run until 2016. However, Imtech had been seeking to negotiate an early conclusion to the partnership after having announced in June 2013 its intention to withdraw from German football sponsorship.
Under the Kuehne deal, the executive chairman and majority owner of the international transportation company Kühne + Nagel has acquired the stadium naming rights for an initial four-year period from the 2015-16 season. The agreement will result in the Imtech Arena reverting to its old name, Volksparkstadion, from July 1.
Kuehne said: “As an HSVer it was a labour of love that the football home of HSV would again wear its original name. I hope that our team can return to previous successes in the Volksparkstadion.”
Hamburg currently sits 14th in the league, two points above last-placed Freiburg with the Bundesliga resuming on January 30.