Limited opportunity for resetting. - Cologne city council files for bankruptcy.
You're nearly speechless!
Discontent in the stadium, backlash on social media, and harsh judgments from experts and icons like Lukas Podolski (38) and Pierre Littbarski (64). The seventh time the club has been relegated has left everyone furious and dumbfounded. But more than anything, the failure of the executives around President Werner Wolf (67) and the board's determination to continue despite the relegation disaster.
Additionally, there's a bankrupcy announcement by the member council on top of it all...
Soundbite: "From our perspective, an ill-considered removal of board members without a suitable replacement would not be in the club's best interest. We respect the members' right to decide, but we urge those considering this to carefully consider our arguments. Removal alone is not a solution that will benefit the FC in this trying situation. On the contrary."
The council cites excessive workload, lack of time, and high expenses among other reasons for their decision.
The letter states, in part: "To put it simply, in the event that all board members are voted out, the members' council would have to manage the association while planning an extraordinary members' meeting and proposing a new board team for election. All of this would need to be done right away and quickly. In addition, a new Members' Council will be elected at the next regular Members' Meeting in September. During the interim management phase, the Members' Council members who represent the association could potentially be replaced if necessary."
The letter also mentions: "The invitation period for a general meeting is at least four weeks. In this scenario, the FC would need to plan and hold three general meetings (two extraordinary and one regular) within a short period of time, which poses significant organizational challenges. Although this may not be an argument in a club democracy, we still feel it's important to raise awareness of this and make it clear that every general meeting comes with substantial costs - around 300,000 euros for the FC."
The million-dollar question that needs answering: Is a members' council still necessary? The club is facing one of the worst crises in its history. And the decision-making body for the upper management, which has supported many flawed decisions in the past and proposed the current board, is not even able to call for an extraordinary general meeting.
Seems to fit perfectly with the craziness in Cologne these days...
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Source: symclub.org
