TSV 1860 Munich enter insolvency, historic club on the brink | OneFootball

TSV 1860 Munich have entered insolvency proceedings, leaving the former city rivals of Bayern on the brink after slipping to the fourth tier. A storied presence in German football could now be at risk.

The club said in a statement that an administrator has been appointed to oversee the process, intended to establish a swift overview of the situation and agree the next steps with management.

TSV 1860 were the only Munich club in the inaugural Bundesliga in 1963-64 and were crowned champions of Germany in 1966, the season Bayern reached the top flight.

Their last Bundesliga campaign came in 2003-04, followed by an irreversible decline and persistent financial problems.

Despite finishing eighth in the third tier last season, they were relegated administratively to the semi-professional fourth level because of a lack of liquidity.

Source: L'Équipe