Former Exec Chair Rieckhoff Presents Reform Plan For Bundesliga Club Hamburg SV
A group led by former Exec Chair Ernst-Otto Rieckhoff "has presented a reform concept for Bundesliga club Hamburg SV," according to the DPA. The so-called "HSVPlus" concept, which was presented earlier this week, "has brought back the belief in a better future at the North German club." Former German int'l and TV pundit Günter Netzer supports the HSVPlus concept and said, "The current structures of the HSV don't fit the modern football business. The outrageous statute and the quality of the board prevent necessary decisions. Therefore, I'm welcoming the concept of Mr. Rieckhoff." The reform concept "proposes several structural changes at the club." The football department "is supposed to be separated from the main club and turned into a public holding company and the board reduced from 11 to six members." In addition, investors such as billionaire Klaus-Michael Kühne "will have the opportunity to contribute." The most important change at the proposed HSV Football PLC would be the possibility for external investors to purchase up to a 24.9% stake in the club (DPA, 9/5).