According to the German newspapers, FC Kaiserslautern would apply for bankruptcy in great monetary trouble. For the past two years the club, where Yuri Djorkaeff and Miroslav Klose played, has played in the third division.
An endangered landmark. The legendary German Football club FC Kaiserslautern is planning to apply for bankruptcy. According to media reports Kicker And Swr, its obligation level amounts to around €24 million, and an application for bankruptcy will be made at the local court in Kaiserslautern this week. A radical yet necessary choice, no investor has approached to fill the club’s colossal financial gap.
This procedure would require the remaking of Kaiserslautern and would have no immediate wearing outcomes. The club could keep playing in this championship next season at present in the third division. The German federation has chosen during the current year, due to the coronavirus emergency and its monetary results, not to sanction the teams – for example, by withdrawing focuses – who might have to record the balance sheet.
“The conditions for professional clubs over-obliged to declare themselves bankrupt have never been something more. The principal club to take that course is the FC Kaiserslautern. It is probably not the last, “says SWR, who in any case brings up that the club” won’t have the option to make do without new capital from investors.
Four-time German champion (1951, 1953, 1991 and 1998 Kaiserslautern and a double-cross semi-finalist of the UEFA Cup (1982-2001), Kaiserslautern included Michael Ballack (1997-1999), Yuri Djorkaeff (1999-2002), and Miroslav Klose (1999-2004). The club was relegated to D3 in 2012 down in D2 without precedent for its history, two years ago.
The club, which on June 2 celebrated its 120th birthday, became Germany’s champion 4 times, won the German Cup 2 times, and 1 time-the German Super Cup.
The coronavirus emergency has additionally exacerbated its monetary troubles