Overview
- The insolvency procedure for the TSV München von 1860 KGaA and its management GmbH was opened on Thursday, June 25, and the court named Dr. Max Liebig as preliminary insolvency administrator.
- The filing followed the withdrawal and cancellation of financing by majority investor Hasan Ismaik, which left the KGaA unable to supply the liquidity proof needed for a 3. Liga licence and prompted the DFB to revoke that licence.
- The registered club TSV 1860 e. V. and the amateur sections are not part of the proceedings and the club says wages are covered through at least August while members voted to create a new Spielbetriebsgesellschaft to prepare a Regionalliga restart.
- Advance income such as roughly €4 million from pre-sold season tickets may become unsecured claims in the insolvency and merchandising rights held by Ismaik-linked entities are disputed, while player and staff contracts currently sit with the insolvent KGaA and are therefore uncertain.
- Liebig will decide whether to seek fresh funding from Ismaik or third parties, pursue legal claims or move to liquidation, and both sides have signalled readiness for protracted court battles that could shape the club’s sporting and financial future.