Ammon News - Munich - A Jordanian investor, Hasan Abdullah Ismaik, is to save German football club 1860 Munich from insolvency and to lead them back into the top flight, the Sueddeutsche Zeitung (SZ) daily reported on Tuesday.

The SZ said that the businessman Ismaik, 34, is ready to invest around 33 million euros (47 million dollars) into the ailing second division club.

Ismaik will reportedly acquire 49 per cent of the club shares for 13 million euros and is ready to come up with an additional sum of up to 20 million euros to bring the club back into the Bundesliga.

'If nothing unforeseeable occurs, and all details given by the club are correct, than nothing should stop the investment,' Ismaik was quoted as saying by the SZ.

'Apart from the buying price we expect an investment of 10 to 20 million euros until 2014 in order to reach the first division.'
Club officials have so far not confirmed the issue, saying only that involvement of a big investor was one option for the 1860.

Ismaik's investment would have to be nodded off by the German football league DFL. He would be the first Middle East investor in German football.

The 1860 club won the Bundesliga title in 1996, but have been in financial trouble for decades. They were forced into the lower leagues in 1982 and need 10 million euros swiftly to avoid insolvency and relegation into the amateur leagues again.

They last played in the top flight in 2003-04 and were docked two points earlier this season for licencing violations. They only proved liquity of 1.5 million euros last week to complete the second division campaign in which they are currently ninth.

Help, among others, came from Germany's wealthiest club, crosstown rivals Bayern Munich. But Bayern's leadership, most notably president Uli Hoeness, came under heavy attack on the weekend from their fans for helping 1860 overcome their financial trouble.

By Klaus Bergmann / DPA