3rd League: Chemnitzer FC files for insolvency - “Expect insolvency”

Chemnitz (SID) After Rot-Weiß Erfurt, a second traditional eastern club in the 3rd football league has filed for bankruptcy. The board of directors and the supervisory board of the financially troubled Chemnitzer FC each decided unanimously to submit an application for the opening of an insolvency application. "The club has built up liabilities that are not covered by the club's assets," said the CFC on Tuesday and appealed "to all members, fans and supporters not to let the club fall, but to fight together for a successful restart." Supervisory board chairman Uwe Bauch said at a press conference in the afternoon: "This step hurts all sky blue fans, it is also very sad for the city of Chemnitz." The decision was made in good conscience. Board member Thomas Uhlig spoke of more than 2,5 million euros in liabilities, plus 1,5 million from an old loan. President Andreas Georgi added: “We expect insolvency.” The application is also a turning point. Thomas Georgi, who also served as managing director in recent weeks, reported many fruitless discussions with creditors. The third division team was informed of the impending bankruptcy on Tuesday, said Georgi. An insolvency administrator will now be appointed. We'll see what happens next. The salaries up to March had been paid, but those for the month of April had not yet been paid. “The employment office will now take care of that,” said Uwe Bauch. It is not yet clear whether there will be an impact on the youth sector, adds sports director Steffen Zahlt. League rival Erfurt was penalized by the German Football Association (DFB) with a deduction of nine points after filing for bankruptcy and has since been the first to be relegated to the regional league of the Northeast German Football Association (NOFV). Chemnitz, which is seven points behind a non-relegation zone, is also threatened with this scenario. The DFB will now request a written statement from Chemnitzer FC, after which the DFB match committee will decide on the consequences for the current season. Paragraph 6 of the DFB playing regulations provides for the deduction of nine points in the event of an application for insolvency. This penalty can only be waived in special exceptional cases, for example if insolvency proceedings have previously been opened against the main sponsor.

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3rd League: Chemnitzer FC files for insolvency - “Expect insolvency”

After Rot-Weiß Erfurt, a second traditional eastern club in the 3rd football league has filed for bankruptcy.

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