SV Werder Bremen
Werder Bremen investor alliance investment · 25 Jan 2024
- Seller
- Primary capital increase
- Stake acquired
- 18%
- Control
- No
- Reported consideration
- €38m
- Implied equity value
- €211m
- League
- Bundesliga
- Country
- Germany
- Confidence
- HIGH
Werder Bremen investor alliance acquired 18% of SV Werder Bremen from Primary capital increase, announced 25 Jan 2024.
Reported consideration was €38m. That implies a 100% equity value of €211m (calculated by us). Announced enterprise value was ~€227m. €38m of new capital went into the club.
Nearest pre-acquisition revenue was €115m (FY 2022/23 (FY to 30 June 2023)), an equity value / revenue multiple of 1.83x.
- Announced
- 25 Jan 2024
- Closed
- —
- Stake after transaction
- 18%
- Status
- completed
Reported consideration
What the buyer reportedly paid for the stake
Implied 100% equity value
Calculated: consideration ÷ stake acquired
Reported club valuation
Enterprise value
Only shown when debt/cash near the transaction date is established
Debt assumed / restructured
Primary capital injection
Total announced investment commitment
Commitments are not purchase price and not valuation
Nearest pre-acquisition financial year: 2022/23 (FY to 30 June 2023)
Revenue
Wages
EBITDA
Net debt
Net income
On 25 January 2024 SV Werder Bremen announced that a newly formed regional alliance of eight Bremen-linked entrepreneurs and individuals would provide €38m via a capital increase in exchange for around 18% of SV Werder Bremen GmbH & Co. KGaA, the listed-bond issuer that runs the professional football business; the e.V. had been sole shareholder.
- SV Werder Bremen — 'Werder Bremen secure long-term strategic partner in regional alliance' ↗Tier 1 · primary club
2024-01-25 — “Regional consortium makes €38m available as part of a capital injection; newly-founded enterprise receives around 18% of SV Werder Bremen GmbH & Co. KGaA; members Baumann, Brüning, Christophers, Fuchs, Harren, Meier, Ohlmeyer, Zech; two supervisory board seats; resale restrictions and Werder right of first refusal; no operational influence.”
- EQS-News via Börse Online — 'Werder Bremen bindet regionales Bündnis langfristig als strategischen Partner' ↗Tier 1 · regulatory disclosure
2024-01-25 · de — “Issuer corporate news (bond issuer disclosure): regional alliance provides €38m 'im Rahmen einer Kapitalerhöhung'; new company of the partners receives ~18% of SV Werder Bremen GmbH & Co KGaA; supervisory board expanded from seven to nine.”
2024-01-25 · de — “e.V. was sole shareholder; alliance organised as a GbR with Ohlmeyer as managing partner; minimum contribution per member, individual amounts undisclosed; club had itself revalued (revenue, net liabilities, comparable transactions) to arrive at 18% for €38m; proceeds to turn ~-€19m equity positive; existing bank loans €17m and bond €18m; explicit comparison to VfB's €41.5m for ~10%.”
- EQS-News via BörsenNEWS — 'Werder Bremen Konzern schließt das Geschäftsjahr 2022/23 mit einem geringen Jahresfehlbetrag ab' ↗Tier 1 · regulatory disclosure
2023-12-14 · de — “FY to 30 Jun 2023 (audited Konzernabschluss): consolidated revenue €115.3m (prior €92.8m), operating expenses €123.0m, consolidated net loss €3.8m; deficit not covered by equity €17.9m.”
- EQS-News — 'Werder Bremen Konzern erzielt im Geschäftsjahr 2023/2024 einen Jahresüberschuss' ↗Tier 1 · regulatory disclosure
2024-12-13 · de — “FY2023/24: consolidated revenue €145.6m (prior €115.3m), net profit €2.2m; equity €22.3m, positive for the first time since 30 Jun 2019 thanks to the regional alliance's entry; personnel expenses up €14.5m.”
- Weser-Kurier — 'Werder Bremen erwirtschaftet Millionenplus im Geschäftsjahr 2023/24' ↗Tier 5 · media
2024-11-18 · de — “AGM presentation: FY2023/24 revenue €149.9m, FY2022/23 €120.1m (club's total-income presentation; differs from EQS consolidated revenue figures); €38m alliance money booked on balance sheet, not in P&L; equity from -€17.9m to +€22.3m.”
- EQS-News via FinanzNachrichten — 'Regionales Bündnis weitet Engagement bei Werder Bremen aus' ↗Tier 1 · regulatory disclosure
2026-03-24 · de — “Klaus and Marcus Wittrock join the alliance; via a further capital increase the alliance now holds 19.39% of the KGaA. Amount not disclosed in the release.”
- kicker — 'Finanzspritze für Werder Bremen' ↗Tier 4 · media
2026-03-24 · de — “Alliance stake raised from 18% to 19.39%; club gives no financial figure, €4m 'im Raum'; no say, no return, no operational influence beyond two supervisory board mandates.”
2026-03-24 · de — “Alliance to 19.39%, bringing Werder a further €4m; valuation higher than in 2024 (higher revenue, lower net liabilities); club prepared to sell up to 24.9%; equity rises to just under €19m.”
- SV Werder Bremen GmbH & Co KGaA — EQS corporate news on the 2022/23 consolidated result (via AnlegerPlus) ↗Tier 1 · company statement
2023-12-14 · de — “"Der Finanzmittelfonds des Konzerns hat sich im abgelaufenen Geschäftsjahr auf EUR 19,0 Mio. (Vorjahr EUR 16,1 Mio.) leicht erhöht." ... "Das Betriebsergebnis hat sich als Folge auf EUR -5,7 Mio. ... verschlechtert" ... "Der nicht durch Konzerneigenkapital gedeckte Fehlbetrag hat sich ... auf EUR 17,9 Mio. erhöht."”
2023-11-20 · de — “"Immerhin ist die Summe der landesverbürgten Darlehen inzwischen durch Tilgung von 20 auf etwa 17 Millionen Euro gesunken. Die Anleihe umfasst rund 18 Millionen Euro. Jedes Jahr werden dafür 6,5 Prozent Zinsen fällig, die Rückzahlung steht 2026 an."”
2023-12-14 · de — “"Das Gesamtvolumen der Anleihe beträgt 30 Mio. Euro, wovon während der Emissionsphase 17 Mio. Euro platziert wurden." (Werder-Anleihe 2021/26, 6.50% coupon)”