After the resignation of Thomas Wüstefeld as CFO and member of the supervisory board, another construction site has opened up at the second division club Hamburger SV.
In addition to the targeted promotion to the Bundesliga, several important personal details must be urgently clarified at the top. In addition, the refurbishment of the Hamburger Volksparkstadion, which is planned as a venue for the European Championships in 2024, is on the agenda, for whose Wüstefeld a financier has been found, but no guarantor yet.
An overview of the current HSV construction sites:
promotion fight
After just missing out on promotion in the relegation in the summer, things are going almost optimally for HSV in purely sporting terms. With seven wins and 21 points from nine league games, the club is at the top of the table before the top game this Friday at Hannover 96 (6:30 p.m. / Sky). So far, coach Tim Walter has managed the feat of keeping the ongoing unrest in and around the club away from his team. The start of the 2022/23 season is the best since relegation in 2018.
CFO wanted
Medical entrepreneur Thomas Wüstefeld first moved up to the supervisory board and at the beginning of the year succeeded the long-standing CFO Frank Wettstein, who had resigned. The 53-year-old should initially take over his position until the end of the year. Then it should be decided whether he will continue there or return to the supervisory body. After his resignation from both posts, a Wüstefeld successor is now being sought instead. For the time being, Jonas Boldt will be the sole director of HSV’s operational business.
Future of Boldt and Walter open
The contracts of sports director Jonas Boldt (40) and coach Walter (46) only run until the end of the season. Boldt actually wanted to have the working paper with his successful coach extended – as he repeatedly publicly announced – but after four failed attempts at the 1st league, the supervisory board wants to wait for the sporting development until the World Cup break in mid-November. The “absolute trust” in the duo is “there”, but the schedule will remain, said the chairman of the supervisory board, Marcell Jansen, on Thursday. Boldt and Walter are faced with the problem that they have to master enormous sporting and economic challenges with a remaining contract term of only nine months.
Financing of the stadium renovation
Wüstefeld has found a lender in HSV main sponsor HanseMerkur for the at least 23.5 million euro renovation of the dilapidated Hamburg Volkspark Stadium, but he still needs guarantors. The city of Hamburg, on which Wüstefeld relied, has already canceled. Because the Hanseatic city bought the property on which the arena is located from HSV two years ago for 23.5 million euros. On condition that the club use the money for the stadium renovation. The fact that the millions – before Wüstefeld’s time – were instead put into ongoing operations means that HSV now has to finance the renovation elsewhere.
HSV future with or without Kühne
Investor Klaus-Michael Kühne has made an offer of 120 million euros to HSV, with which the clammy club would be rid of its financial problems in one fell swoop. Problem: The 85-year-old, who holds a good 15 percent of the shares in Fußball AG, wants to increase his shares to 39.9 percent in return. According to the articles of association, however, no more than 24.9 percent may be sold to shareholders other than HSV e.V., which is headed by President Jansen. Since the control committee is now holding talks with Kühne Holding after an initial quick rejection, a rethink seems possible. “We would be stupid if we didn’t stay on the ball and stay in touch with Mr. Kühne,” said Jansen. Then HSV would have to change its statutes.
