Ex-Bundesliga champions 1860 Munich drop into fourth tier

Investor Hasan Ismaik has regretted the demotion of former Bundesliga champions 1860 Munich into the fourth division over financial problems.

The club was a founding member of the Bundesliga in 1963 and won the title in 1966. They also have two German Cup titles and played in the European Cup Winners' Cup final in 1965.

But 1860 have not played in the top flight since 2004 and had been in the third tier since 2018.

They finished eighth in the past season but missed a Wednesday deadline by the ruling body DFB, reportedly not able to provide €2.7 million ($3.1 million) for a new third-tier licence.

As a result the club is demoted into the fourth tier, like in 2017 for the same reason.

The club named "a failure to honour a funding commitment by our shareholder Hasan Ismaik and his affiliated companies" as the reason while Ismaik said late Wednesday on Facebook that an agreement could not be reached although he made concessions.

Jordanian businessman Ismaik has always been controversial since he started investing into the club in 2011. He spoke of general structural problems on Wednesday which didn't allow the club to break even.

But he also said: "I am convinced that TSV 1860 Munich will one day return to the position it deserves. This club is bigger than a single season and bigger than any crisis.

"It stands on a proud foundation of history, tradition and passionate fans, who have always been its greatest strength."