Kaiserslautern will be declared as a bankrupt in the near future, reports Kicker.
The club, could not agree with the three main creditors, to whom they owe about 15 million euros. The total debt of the “devils” is 20 million euros. The club is now playing in the third division of the German championship.
There was an opportunity to postpone payments for a year, but during coronavirus pandemic it was, even more, shaking due to the deplorable state of the club’s finances, the Kaiserslautern decided not to suffer another 12 months, but to start from scratch.
On June 2 the club celebrated its 120th anniversary, became the champion of Germany 4 times (1951, 1953, 1991 and 1998), won the German Cup 2 times (1990 and 1996), and 1 time – the German Super Cup (1991).
