On March 14th it will be decided whether the Kiel Yacht Club (KYC) will lose its home. If the members of the second largest German sailing club on that day refuse to pay a substantial contribution, the traditional buildings on the Hindenburgufer will have to be sold.
The prestigious club, among other things the organizer of the Kieler Woche, press such huge liabilities that its liquidity is no longer guaranteed. According to the "Kieler Nachrichten" (KN), the association's chairman Lothar Jenne "let it through that the association needs funds amounting to three million euros". The last resort is a contribution among the approximately 1,500 members, which will be decided on March 14th. Each full member should pay 3,800 euros, or the property - including the hotel, restaurant and all club facilities - will be sold.
The cause of the dilemma is the highly deficient operation of the club's own hotel. The Krupp Group donated it to the club in 1926, and on the occasion of the Olympic sailing competitions in 1972 it was upgraded with additional bed capacities. It never paid off, on the contrary. His business devoured considerable sums of money over the years, "the gastronomy" developed, according to the KN, "for the association to a bottomless pit". Now the emergency brake is practically pulled.
Club boss Jenne points out that the club's assets (including ships and properties in Strande) still exceed the liabilities. The KYC is therefore not bankrupt, but it is on the verge of insolvency. The club's operations with a large number of regattas - especially the Kiel Week - are not endangered by the current development, according to Jenne. The end of the horror, board member Jobst Richter, race director of the Kieler Woche, even gains something positive from: "Then we can finally deal with themed sailing again in the board meetings and other committees."