FC Wacker Innsbruck: Creditor threatens total loss after bankruptcy!

FC Wacker Innsbruck: Creditor threatens total loss after bankruptcy!

FC Wacker Innsbruck is facing a dramatic financial fate, which will have serious consequences for many of the club's approximately 130 creditors. How LAOLA1 reported, a total loss of receivables is to be expected, as insolvency administrator Herbert Matzunski has only been able to bring in minor economically relevant amounts in the last three years. A final hearing date will be set by the Innsbruck Regional Court in the coming weeks, after which the bankruptcy proceedings will be annulled.

Despite the recognition of liabilities of around 2.4 million euros, there will be no distribution to creditors. This decision will result in a complete loss of your rights. A legally binding claim for 1.2 million euros against former investor Thomas Kienle, whose lack of assets makes collection impossible, is particularly stressful for creditors.

The sporting decline and the current situation

The club, which restructured its professional department into a GmbH in 2016, had to initiate bankruptcy proceedings in June 2022 due to financial difficulties. Over 130 creditors registered claims totaling almost 18 million euros, although only around 2.4 million euros were recognized as legitimate. Relegation from the second division was difficult for FC Wacker Innsbruck and resulted in the club currently playing in the fourth-tier Regionalliga Tyrol, where it is in first place.

The context of financial difficulties in football

The situation of FC Wacker Innsbruck reflects the greater financial challenges that many traditional clubs face. Loud Focus Numerous clubs, such as FSV Frankfurt, filed for bankruptcy and had to reposition themselves, while others such as TSV 1860 Munich were on the verge of financial ruin but were able to reach an agreement with their sponsors. These problems are often fueled by unrealistic demands, unfair distribution of television revenues and high debt burdens.

In the second league, over 130 million euros in television money are paid out every year, which further increases the financial differences compared to the lower leagues. Relegation also often leads to the beginning of profound financial difficulties, as sponsors prefer “quality rather than quantity” and it becomes difficult to find new donors. FC Wacker Innsbruck is therefore not alone; The problems are widespread and affect many clubs in Europe.