1860 Munich stakeholder to act against ownership rule
MUNICH (AP) 1860 Munich majority stakeholder Hasan Ismaik says he will take action against German soccer's 50-plus-1 regulation, which limits the influence of external backers.
Ismaik, a Jordanian billionaire who is at odds with what remains of the club's management, tells Kicker magazine ''I always said I appreciate the German laws and stick to them. But we've come to a point where I say: It can't go on like this. I'm preparing the lawsuit against 50-plus-1.''
Ismaik owns 60 percent of 1860 after saving the club from bankruptcy in 2011, but has only 49 percent voting rights in keeping with the ownership rule. Ismaik wants more influence after persistent clashes with management.
1860 was relegated from the second division but faces further demotion after Ismaik failed to pay for its third-division license.
