Frankfurt - Statement by Prof. Dr. Udo Steiner, chairman of the Court of Arbitration, pertaining to MSV Duisburg's appeal against the non-issuance of a Bundesliga 2 operational license for 2013/14:

"The Court of Arbitration has rejected MSV Duisburg's appeal against the Licensing Committee's non-issuance of an operational license for Bundesliga 2. In the judgement of the Court, the Licensing Committee's ruling is free from legal error. MSV Duisburg was unable, within the specified timeframe, to demonstrate to the Licensing Committee sufficient liquidity for the coming season."