Businessman Klaus-Michael Kühne To Provide Bundesliga Side Hamburg SV With $33M Loan

Bundesliga side Hamburg SV investor Klaus-Michael Kühne "will provide the financially struggling club" with a €25M ($33.5M) loan, according to the SID. The club announced on Monday that the loan "will later be converted into a stake in the new HSV Football AG," which was separated from the main club and is only in charge of the professional football team. Kühne said, "The expansion of my involvement in support of the HSV's professional football department highlights my trust in the new club management." Club Chair Dietmar Beiersdorfer said, "We are very happy about Mr. Kühne's gracious support and his trust in us. The support comes at the right moment as we try to realign ourselves." The money "will likely be used to strengthen the team" (SID, 8/4).