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3rd league: Türkgücü Munich files for bankruptcy

Third division football club Türkgücü Munich has filed an application for the opening of insolvency proceedings at the Munich District Court. “Up until the day the application was submitted, we tried everything in our power to avert this step,” said Managing Director Max Kothny.

The club, currently 18th in the table, is threatened with a nine-point deduction and relegation from the 3rd division. Türkgücü’s medium-term goal was originally the leap into the 2nd Bundesliga. The DFB rules of the game state: “If a club in the 3rd division applies for the opening of insolvency proceedings against itself, the first team will be deprived of nine points. The decisive factor for this legal consequence is the application for insolvency, not the opening of insolvency proceedings.”

In such cases, the decision for the 3rd division rests with the DFB game committee. The points will only be deducted “when the DFB game committee has made an official decision. An exact time for this cannot be given,” the association said. At KFC Uerdingen, a reduced point deduction of three points was granted last season due to an exception rule.

Club President Hasan Kivran was obviously no longer willing to close the financial gaps. According to media information, the January salaries for the professionals are still pending.

“Even if that unfortunately didn’t work out, it is now important to see the situation not as the end, but as an opportunity. We now have the opportunity to realign ourselves without burdens from the past and with the help of possible new, strong sponsors”. said Kothny. In which league a new structure can take place depends on sporting and financial factors.

In the course of the process of re-licensing Türkgücü München Fußball GmbH & Co. KGaA for the 3rd division, a necessary financial requirement was identified, “which should have been offset by shareholder funds,” the club announced on Monday: “After initially promised shareholder funds were not flowed, the step of filing for the opening of insolvency proceedings became unavoidable.”

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