TSV 1860 Munich terminates partnership with controversial financier
In a significant move for German football, TSV 1860 Munich has announced a new shareholder, a Swiss family holding company. This change follows the departure of Hasan Ismaik, who sold his shares in the club after 14 years of involvement.
Ismaik's exit comes with a promise to leave the club debt-free, as all debt obligations, except for those financing commitments required for the current season's license, have been waived. This move is seen as a successful achievement for Ismaik, who stated that this was his intention from the beginning.
The new shareholder has expressed a strong commitment to the city of Munich and its residents, promising to strengthen the Grünwalder Stadium as the home of the lions. Plans include swift negotiations to renovate the stadium according to DFL requirements and the construction of a new sports hall to support all aspects of the 1860 Munich sports club.
The board of TSV 1860 Munich is pleased with the new long-term partner, expressing optimism about the future of the club. The transaction is expected to be completed in the coming week, although the identity of the new shareholder remains undisclosed.
Ismaik's tenure at TSV 1860 Munich was marked by public disputes, culminating in the club's sporting and economic decline that led to the Regionalliga Bayern in 2018, and it has been playing in the 3rd league since then. The hope now is that the new ownership will bring fresh perspective and help the club regain its former glory, with the ultimate goal of reaching the second league.
[1] Details about the purchase price and the specifics of the renovation and sports hall construction plans have not been disclosed.
The Swiss family holding company, newly announced as a shareholder for TSV 1860 Munich, has demonstrated a strong interest in the club's business and sports development, promising to renovate the Grünwalder Stadium and construct a new sports hall. This move in finance is a hopeful step towards helping the football club regain its football glories and potentially reaching a higher league.
