The club’s management is sounding the alarm. The traditional club needs money – and it needs it fast.

According to the club management, the regional football league club VfB Lübeck is on the verge of insolvency. The supervisory and management boards are facing a serious financial challenge, according to a statement. “After comprehensive analyses of the current financial situation in the last few weeks, a significant liquidity gap of approximately one million euros has been identified.”

If the club is unable to generate this amount in the short term, within the next two days, through sponsorship, donations and other measures, it would be forced to file for bankruptcy by Thursday at the latest. “This would be the third insolvency of VfB Lübeck in the last 16 years, after 2008 and 2013, with serious and unforeseeable consequences for the club and the entire football community in Lübeck,” it said.

The former second division club was relegated from the third division last season. The team is currently ranked tenth in the Regionalliga Nord.