Previous
Arsenal
FC Basel
6:45 PM UTC
Game Details
Borussia Monchengladbach
Barcelona
6:45 PM UTC
Game Details
Celtic
Manchester City
6:45 PM UTC
Game Details
Atletico Madrid
Bayern Munich
6:45 PM UTC
Game Details
Ludogorets Razgrad
Paris Saint-Germain
6:45 PM UTC
Game Details
Rostov
PSV Eindhoven
6:45 PM UTC
Game Details
Besiktas
Dynamo Kiev
6:45 PM UTC
Game Details
DC United
Columbus Crew SC
11:30 PM UTC
Game Details
Montreal Impact
San Jose Earthquakes
11:30 PM UTC
Game Details
Toronto FC
Orlando City SC
11:30 PM UTC
Game Details
Seattle Sounders FC
Chicago Fire
2:30 AM UTC Sep 29, 2016
Game Details
Next

Trending: Allardyce rues England exit

Latest
Read

Bayern still winning, but differently

Premier League
Read

No quick fix for Antonio Conte

Chelsea
Read

Johannsson wants Werder Bremen chance

Werder Bremen
Read
By ESPN Staff

Financial crisis looming for 1860 Munich

TSV 1860 Munich, one of the Bundesliga's founding teams, faces immediate financial problems after the club said on Tuesday that investors brought in to turn it around had provisionally pulled out.

1860 Munich, now playing in the second division, said its plan submitted to the German Football League (DFL) and which would have brought in a group of investors to bail the club out, was not approved by the DFL.

"We were informed in writing yesterday by the DFL that the contractual set-up of our model partly does not meet the guidelines of the league," the club said on its website.

It added that any investment by the new backers, led by Nicolai Schwarzer, would be "put on ice".

The investors were unveiled only days ago as the club's saviours together with new director of sports Miroslav Stevic, a former 1860 player.

But instead of any immediate cash injections, the club has so far had to deal with further financial concerns culminating in the provisional freeze on the deal.

The DFL said it had so far not rejected the plan but wanted to talk to the club about its proposal.

"Up to now there is no refusal for the announced investors to come in," the DFL said in a statement. "The DFL considers the need for a discussion with 1860 (in the coming days)."

1860 Munich were once the city's biggest club, winning the Bundesliga in 1966, three years before their local rivals Bayern Munich won the title and began to dominate German soccer.

The Lions, as they are known, also played in the 1965 European Cup Winners' Cup final, losing to West Ham United.

After about a decade in the top division, including a brief Champions League appearance in the 1999/2000 season, they dropped down to the second division in 2004.

Since then they have had to sell their 50 percent stake in the Allianz Arena in Munich to Bayern for 11 million euros ($14.26 million) to meet growing financial needs.

Comments

Use a Facebook account to add a comment, subject to Facebook's Terms of Service and Privacy Policy. Your Facebook name, photo & other personal information you make public on Facebook will appear with your comment, and may be used on ESPN's media platforms. Learn more.