Overview

• The DFL licensing committee approved participation for all 36 sport-qualified clubs in the Bundesliga and 2. Bundesliga for the 2025/26 season.
• Hertha BSC secured bondholders’ consent to extend its €40 million Nordic-Bond Anleihe by three years while cutting the interest rate from 10.5 percent to 6.5 percent.
• The club retains the option to repay the bond in full or in part from 8 November 2025 at 100 percent of nominal value plus accrued, unpaid interest.
• Hertha entered the process with negative equity of €23.062 million and liabilities of €56.75 million, making the debt adjustment crucial to clearing its final licensing hurdle.
• All clubs must reconfirm their financial viability in autumn under DFL regulations to maintain clearance for the new season.