Gleiss Lutz has advised TSV München von 1860 GmbH & Co KGaA on its successful financial restructuring and the negotiations with its shareholders, sponsors and contracting partners. Thanks to an agreement between the parties involved, its imminent insolvency could be averted, meaning that the tradition-steeped Munich club will continue to be part of the football scene.
The agreement covers deferrals by both shareholders, TSV München von 1860 e.V. and the Jordanian investor Hasan Ismaik’s company HAM International Limited, as well as a bridging loan from the club’s main sponsor, Bayerische Beamten Lebensversicherung (BBV). In addition, an agreement was reached with FC Bayern Munich about moving out of the Allianz Arena.
Since 2002, the professional football section as well as the Under 21s and Under 19s have been combined under the auspices of TSV München von 1860 GmbH & Co KGaA. 60% of the shares in this company are held by HAM International, and the remaining 40% by the club.
Stuttgart partner Dr. Andreas Spahlinger (restructuring) led the following team of Gleiss Lutz lawyers: Dr. Matthias Tresselt (partner, Stuttgart), Dr. Alexander Nagel (Düsseldorf, both restructuring) and Dr. Thomas Kulzer (counsel, finance, Frankfurt).
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