Because he refused the club more money, the lions had to be relegated to the 4th division.
(Photo: dpa)
Munich Despite a vote of no confidence by TSV 1860 Munich, the fourth division football club will continue to work with the controversial investor Hasan Ismaik for the time being. The club will not announce the termination of the cooperation with the sponsor’s investment company within six months, which was formally requested by the club members in July. According to information from Monday, the presidency and the board of directors of the “Löwen” decided this together in a meeting on December 15th.
The decision on July 23 to terminate the contract was subject to the condition “upon approval of the Board of Directors”. The people of Munich then obtained a legal opinion for a “serious opportunity-risk analysis”, as they wrote. The executive committee and the administrative board of the TSV came to the conclusion “that under the current framework conditions and at the present time, an implementation of the member’s resolution would result in a reduction in the possibilities for action and the legal positions of the association.”
President Robert Reisinger had already expressed his concerns about the vote after the general meeting. “This motion, when it is made like this, compels us to act,” he said, “without considering whether it makes sense to act.”
Ismaik acquired 60 percent of the 1860 shares when he joined the company in 2011, but only 49 percent of the voting shares. Since then, the point of contention has always been what he considered to be too little influence on the business of TSV. He still refuses to say goodbye, even though a few weeks ago he conceded talks with an “outstanding Munich personality”.
Top jobs of the day
Find the best jobs now and
be notified by email.
In terms of sport, the investment did not pay off for Ismaik. In the summer, the club was relegated from the 2nd Bundesliga. Because Ismaik then denied the club another tip, the “lions” had to play in the 4th division. After all, they are leaders there during the winter break. Ismaik should now atone for the crash with the decision. The TSV did not provide any information on how the cause would continue.
/origin-imgresizer.eurosport.com/2024/04/26/3956093-80335568-2560-1440.png?fit=300%2C300&ssl=1)