Josh Wander (middle) in March at the presentation of 777 Partners as a new investor in Hertha BSC with club president Kay Bernstein (left). picture alliance / nordphoto GmbH / Engler | nordphoto GmbH / Engler
Hertha investor Josh Wander from 777 Partners expects a “new wave of commercialization” in football.
Wander also spoke in the “Financial Times” of the vision of selling insurance to fans instead of sausages and beer in the future.
777 Partners aims to be profitable with all of its clubs by next season. However, Hertha BSC recently made heavy losses.
At Hertha BSC, many fans breathed a sigh of relief after the departure of the controversial investor Lars Windhorst. But now statements by Josh Wander should cause new worry lines among the supporters of the Bundesliga relegated. The American and his partner Steve Pasko joined the Berliners with their company 777 Partners last March. With the “Financial Times“ Wander now spoke about his expectations and visions as a football investor.
Wander expects a “new wave of commercialization” in football. And he said frankly that 777 Partners paid attractive prices to join clubs who had done a “terrible job of marketing the product”. Wander probably didn’t just mean Hertha BSC, because 777 Partners is also involved with Spanish FC Sevilla and Vasco da Gama in Brazil. According to the Financial Times, the group of investors is now eyeing Everton FC from the English Premier League.
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How Wander wants to earn money with football in the future could not meet with much approval among Hertha fans. “The vision for the football group is that one day we will no longer sell sausages and beer to our customers,” said Wander. Instead, the investor would rather “sell insurance or financial services or whatever.” In doing so, the American relies on the supporters’ close ties to their clubs. “They want to be monetized,” he said.
777 Partners wants to be “profitable by next season” in football
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Wander also formulated goals against which Hertha BSC will have to be measured. 777 Partners wants to be “profitable by next season,” the entrepreneur announced. According to the Financial Times, this applies to all clubs in the financial investor’s portfolio. On the other hand, the Berliners have made high losses in the past, in the half year before 777 Partners entered the company, losses totaled 44.6 million euros. After being relegated from the Bundesliga, the traditional club is under even more economic pressure.
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