1860’S worries about the future after the investor bust

1860's worries about the future after the investor bust

The former rescuer from jordan has fallen out with the club’s management – a crisis meeting on monday evening is likely to escalate the already tense situation. After about four hours of negotiations, the furious ismaik stormed off. As president dieter schneider admitted, "as things stand at the moment," ismaik will not make the agreed payments to the club in the future.

If it comes so, the club faces an uncertain future. A plan b must now be found quickly – the central question is how to continue without the seven- to eight-figure subsidies from ismaik. In may 2011, the arab had joined the munich club with an initial 18.4 million euros and had saved the club from financial ruin. Without the planned money from ismaik, the lowen could soon face a similarly critical scenario, especially since the team had been strengthened at great expense in the summer.

1860 bosses have long been at loggerheads with their main financial backer over the future direction of the club. Ismaik, who holds 49 percent of the club’s voting shares, is aiming for a quick rise in the bundesliga with a lot of money and gross economic risk, but the club’s management doesn’t want to go along with it.

Ismaik therefore announced a jointly agreed three-year plan. Already in autumn he had invited schneider& co. Dupiert, when his desired coach sven-goran eriksson watched several 1860 games from the tribune and speculation arose around a new coach change. But the 1860 bosses didn’t want to simply have the english ex-national coach printed on their eyes.

"I can’t work with these people," ismaik said on tuesday night, before speeding off in his top-of-the-line landing car. In the process, they approached the jordanian in conversation, schneider said. He had demanded certainties from ismaik for the scenario to take more money in hand for a promotion. "But he has refused," explained the president. Instead, ismaik had demanded greater decision-making powers for himself.

However, the 50+1 rule in the statutes of the german fubball league (DFL) prevents investors from acquiring a majority stake in professional clubs organized as spin-off companies – unlike, for example, in the english premier league. It seemed almost bizarre that ismaik thought that he would go to the DFL himself after the dispute. Schneider has only faint hope for a compromise. "But we are always open when he says in two or three days: I’ve thought it over again."

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