The historic German club München 1860, once a fierce rival of Bayern Munich and currently competing in the fourth division, is now on the brink of bankruptcy. On Thursday, the club officially entered insolvency proceedings.
In a statement posted on their official website, the club announced the appointment of an administrator to oversee the process. The primary goal is to quickly gain a comprehensive understanding of the club’s financial situation in order to explore and implement the next steps in coordination with the management.
München 1860 was the only Munich-based club to participate in the inaugural Bundesliga season of 1963-1964 and went on to win the German championship in 1966. The Lions last appeared in the top tier during the 2003-2004 season, after which they encountered severe financial difficulties. Due to a lack of liquidity, the club was relegated to a semi-professional league.
Related Stories
