Recently-relegated Second Bundesliga side 1860 Munich faces "demotion to Germany’s fourth or fifth tier after failing to meet a deadline" for a third-division license, according to the AP. The club was "due to make a payment" of reportedly €5M-€10M ($5.6M-$11.3M) to the German FA (DFB) for the license by Friday. But 1860 Munich's financial backer, Hasan Ismaik, said through his company, HAM, that he was "not prepared to pay it" because the team "refuses to make necessary changes to solve the many issues facing the club." Ismaik, a Jordanian billionaire who owns 60% of 1860, was the club’s "only hope of meeting the payment deadline." Despite missing the payment, Ismaik said that he will continue to support the club at the fourth or fifth level "and push forward necessary changes." Ismaik, who "only has 49% voting rights at 1860 in line with the Bundesliga's 50-plus-1 regulation," has reportedly "made his financial support dependent on conditions that would have given him more power." Ismaik denied any responsibility "for the club's plight" and accused management of "unscrupulous power struggles" (AP, 6/3).
