New investor GCT backs out due to Coronavirus

New investor GCT backs out due to Coronavirus

At the beginning of this year, German investor Tennor announced his intention to buy a 50% stake in the GCT. Tennor is owned by German businessman Lars Windhorst, who is also co-owner of Berlin football club Hertha BSC. Tennor is now abandoning his investment, RTL reports.

Early this year, Tennor announced it would acquire shares of US sports invested Frank McCourt, who had previously held a 50% stake in the GCT, Jan Tops' company. However, it now appears that the Corona crisis has changed those plans. The German investor expects to have a negative impact on the Global.

The Germans are afraid that suddenly much more money will have to be invested in the GCT. However, Frank McCourt is not satisfied with dropping out of the new German buyers.

Undoubtedly to be continued ...


Photo: Stefano Grasso