Lions saved from extinction
Munich - TSV 1860 München's management breathed another collective sigh of relief on Friday when the club satisfied the DFL's (German Football League) financial licence regulations to maintain their second division status at least until the end of the current season.
The financially-stricken second division club were able to guarantee between €1.75 and €2 million to keep the club afloat and meet the league's stringent liquidity requirements to see out the remainder of this Bundesliga campaign.
We submitted all the guarantees on time, said 1860 General Manager Robert Schaefer. According to Schaefer, all outstanding players wages for March have also been paid.
However, this is only a minor step for the Lions on the long road to salvation.
Rumours abound of potential Arab investment from Abu Dhabi and a prominent European betting company both wanting to take on a Lion's share of the debt.
Lions President Dieter Schneider assured worried 1860 fans that local rivals Bayern Munich will play absolutely no role in the future solution. To avoid liquidation 1860 need to find around €10 million to guarantee any sort of future next season.
