Lease contract:Hertha BSC, Senate and the Olympiastadion Berlin reach agreement

Lease contract: Hertha BSC, Senate and the Olympiastadion Berlin reach agreement

Berlin, 23.05.2016: In the past several weeks, Hertha BSC, the Olympiastadion Berlin GmbH and the Senate Department of the Interior and Sport have intensively negotiated a contract extension of the stadium lease that was set to expire in 2017.

Last Wednesday all participants were able to agree on all of the important issues and worked out precise benchmarks for a new contract. The key points pertain to the lease rates, the process of contracting for the catering rights and the term of the lease including a renewal option.

Berlin Sport Senator Frank Henkel: “We’ve found a good solution. Everyone involved knows the interdependence and what the other party means to them. Hertha BSC is a flagship of our city. We are proud if the club continues to take the field in this wonderful five-star stadium. Hertha and the Olympiastadion Berlin just belong together.”

Hertha president Werner Gegenbauer: “I am pleased that we were able to reach an agreement on the important points like the term of the lease and the rates as well as the catering rights. This gives us clarity and of course security in planning.”

Timo Rohwedder, CEO of the Olympiastadion Berlin GmbH: “The negotiations were fair and constructive, we are very satisfied with the result. The Olympiastadion Berlin and Hertha BSC will be a strong team in the future, and I look forward to it. As the operating company we will provide optimal conditions for all Hertha BSC home games – now and in the future.”

As soon as the last details in some key points are finalized, the draft requires the approval of the boards of Hertha BSC and the Olympiastadion Berlin GmbH.