Hammer in handball! - Permission granted for HSV.
The arbitration court convened at the Maritim Airport Hotel in Hannover at 11:30 am to determine if HSV would obtain a license for the 2024/25 season or be denied one due to the Handball Bundesliga's withdrawal. After hearing testimonies and scrutinizing evidence, judges Christof Wieschemann, Michael Kintrup, and Prof. Dr. Rainer Tarek Cherkeh retreated to the Kestner Salon for further deliberation. They reached their verdict at 5:42 pm.
Handball-Hammer! HSV Receives License
The HSV will receive the license, but must fulfill additional financial conditions by June 5th.
The licensing saga unfolded in the Salon Herrenhausen, with the three-member arbitration court and attendees including Andreas Thiel (HBL legal counsel), Helge-Olaf Kading and André van de Velde (HSV lawyers), league president Uwe Schwenker, business manager Frank Bohmann, Oliver Lücke for the HBL, and for the HSV, business manager Sebastian Frecke, goalkeeper Jogi Bitter, and captain Niklas Weller.
Why was the arbitration court the final instance for the HBL?
The HBL's independent licensing commission uncovered a multimillion-dollar liquidity gap. The HSV was granted a license on April 17th, but with the condition "the currently existing liquidity gap must be closed by no later than May 3, 2024."
Despite addressing the gap by May 3rd, the money arrived at the wrong time. It appeared on the account at 1:06 pm instead of the mandated 12:00 pm. Consequently, the license for the following season was not issued.
The arbitration court later discovered that the terms and conditions were not in compliance with the league's statutes, thus reversing the license withdrawal.
The HSV appealed against the decision, an appeal that was unanimously dismissed by the HBL presidium on May 6th, prompting the team to seek justice from the arbitration court. The Handball Bundesligist protested unfair conditions from April 17th. Unlike its competitors, the HSV had to provide evidence of funds from investors joining on July 1st prematurely.
HSV's managing director, Sebastian Frecke, and investor Philipp Müller deposited 4.1 million euros at the HSV headquarters. They also inquired about valuations and currency conversion with Müller's house bank.
The HBL was informed of the transaction only orally. Then, they allegedly received the relevant documents (transfer receipts, bank statement of the valuation) via email. The HSV also sent the papers via express mail (DHL) to Cologne headquarters. They reached their destination punctually at 9:30 am on May 3rd.
Yet, the payment process was not punctual. The 4.1 million euros were credited to the Volksbank account of the HSV late, at 1:06 pm. This left the club in breach of the deadline by 66 minutes.
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The arbitration court reinstated the license, but with conditions calling for HSV to fulfill further financial requirements by June 5th. The decision was greeted with mixed reactions from fans and critics.
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