The highly indebted football third division club 1. FC Kaiserslautern will sign up according to matching media reports of insolvency. According to information of "Kicker" and the SWR of the four-time German champion plans to make in the next few days an application with the district court of Kaiserslautern. The Palatinate are now plagues of debt in the amount of around € 24 million and € 15 million for the issuance of the license for the upcoming season need.
The Association aims to, apparently, a self – administered insolvency proceedings – a so-called plan insolvency. This could to renovate the four-time German champion and the impending crash away. On Monday, the Association wants to inform management at a press conference on the economic situation and the planned steps.
Sporty the step has no consequences for the Red devils. The German football Association has suspended a bankruptcy petition referred to the Nine-point deduction because of the Corona-crisis. The FCK is with 44 points, currently tables-Twelfth in the third division. The pad to a descent rank is seven meters.
The FCK-leadership Advisory Board spokesman Markus Merk and managing Director Soeren Oliver Voigt had sought in recent weeks to find ways out of the financial crisis. The hoped-for debt restructuring did not materialize, however, because potential investors want to put their money, apparently, only after the complete renovation of the Association.
Date Of Update: 14 June 2020, 15:19
