Club blames investor Ismaik
©IMAGO
TSV 1860 Munich cannot meet the requirements for the third division license and is therefore relegated to the Bavarian Regional League. The club confirmed this on Wednesday evening. Due to failure to provide proof of liquidity on time, the club will not be issued the required approval for the 3rd league. The reason given by 1860 was “a financing commitment from our partner Hasan Ismaik and the companies associated with him that had not been fulfilled”.
“I regret that the shareholder HAM International did not honor the financing commitment. Until the end, I was firmly convinced that a solution could be found in the interests of the professional football society. Unfortunately, this wish has not come true. We will now devote all our energy to putting together a powerful squad for the coming season in the Bavarian Regional League,” said managing director Manfred Paula. Already in 2017, after relegation from the 2nd Bundesliga, the club did not receive a license for the 3rd league.
In the past few days, the media have consistently reported that 1860 was missing 2.7 million euros to obtain the license for the 3rd league. This had to be proven by Wednesday, which the traditional club was unable to do. Already in 2017, Ismaik, who has always railed against the 50+1 rule in order to take control of the club, refused to pay around 10 million euros necessary for a license in the 3rd league after relegation from the 2nd Bundesliga. TSV 1860 then had to make a fresh start in the regional league.
Gernot Mang, President of the e. V. added: “This development is particularly disappointing because both the management and the representatives of the parent club trusted that the commitment made would be adhered to. As club representatives, we have always shown ourselves to be willing to compromise, but we cannot ignore the statutory and association law requirements.”
Before the season, the Munich Lions invested in the squad in order to return to the 2nd Bundesliga. Among others, experienced Bundesliga professionals such as Florian Niederlechner and Kevin Volland. With a squad value of 9.2 million euros, the club is the fourth most valuable team, only finished the season in ninth place and exited the promotion race early. Now the bitter reality is the Regionalliga instead of the 2nd Bundesliga.