BERLIN, July 19 (Reuters) - Eintracht Frankfurt have avoided relegation to Germany's lowly regional league after the former UEFA Cup winners retained their licence to play in the second division, despite concerns about the club's financial health.
The German Football League (DFL) said Eintracht could stay
in the second division after courts in Stuttgart and Frankfurt
reversed a German Football Association (DFB) decision in June
revoking their licence because the club did not meet league
financial rules.
Relegated SpVgg Unterhaching tried to have the decision
revoking Eintracht's playing licence upheld in the courts, as
that would have allowed the former first division side to take
Eintracht's place in the second division.
'This is a good day for football, for the fans and for
Frankfurt,' Frankfurt's mayor Petra Roth said in a statement.
'Hopefully in future the decision about who stays up and who
gets relegated will be decided on the pitch and not in the
courtroom. I'm particularly glad for the fans -- they can cheer
Eintracht to the top of the table,' said Roth.
Frankfurt's Waldstadion, located just outside the German
financial capital in a forest area, is being renovated for the
World Cup finals in Germany in 2006 and Roth said it was
important Eintracht stay in the higher leagues to underline the
city's commitment to sport.
ROCKED BY SCANDAL
Eintracht, who were beaten 7-3 by Real Madrid at Glasgow's
Hampden Park in 1960 in what many football analysts consider the
greatest game of football ever, have been rocked by a series of
financial scandals in recent years.
The club was docked two points in the 1999/2000 season for
financial irregularities but managed to stay up by winning on
the last day of the season.
The 2000/2001 season saw the club relegated for the second
time since 1996 and they finished last season in seventh place
in the second division.
In April this year, the DFL demanded that Eintracht show
that it had 11.5 million euros in liquidity or
else lose its licence to play in the second division.
The club finally came up with the money in June, just hours
after Roth had taken part in a ceremony to lay the foundation
stone for the new stadium.
Eintracht's supervisory board chairman Volker Sparmann
welcomed the court decision but told the Frankfurter Neue Presse
that the pressure was now on to get Eintracht into shape -- on
the field and in the boardroom -- ahead of a new season.
'Actually there is nothing to celebrate, we've lost 14 days.
We'll have to look closely to make sure we don't make mistakes
by being too euphoric. We'll make sure the budget is balanced
and our savings plan will get even tougher,' Sparmann said.
There was applause on Thursday in the courtroom when the
judge read out her decision and Eintracht's financial controller
Thomas Proeckl said he could finally smile again.
'The up and down of the past few weeks was an incredible
pressure. Now we can finally get some things done, our hands are
no longer tied,' Proeckl told the club's website.