The Leipzig Kings have announced via social media that they ‘will most likely have to stop competing in the European League of Football (ELF)’, citing a lack of economic and financial sustainability.
In the post, the Kings stated:
‘The causes of our continuous, economically tense situation are manifold – starting with an extremely difficult start due to massive omissions by the previous owners of the franchise, which to this day have a massive influence on how we are perceived by many (partner) companies.
‘Unfortunately, the varied interest expressed by entrepreneurs and traders ultimately resulted in an insufficient number of sponsorship contracts. Furthermore, the inadequate infrastructure in the region and – last but not least unfortunately the lack of interest in our sport in the region also weigh on us.’
The post goes on to say that their financial issues became apparent when at the beginning of the season their main investor pulled out, leaving the team with a deficit they were unable to unload onto the shareholders.
Another interesting piece of information in the post was that the Kings had previously asked the ELF for a loan to cover their operational costs for the rest of the year, for which the league denied.
The Kings were purchased just over a year ago with a high six-figure sum. They are now on the verge of folding and appear to have exhausted all avenues for rejuvenation. If the Kings do indeed drop out of the league mid-season, it will not only be a nightmare to deal with in terms of standings and scheduling but also from a PR perspective as it will be the second team to fold in a year. The Istanbul Rams discontinued operations in the ELF following the 2022 season, their first in the league.
The Kings have said that more information will follow later this week.