Irving left Tynecastle last summer to play abroad but his new team are now engulfed in a financial crisis and could end up demoted to the fourth tier of German football.
A lack of predicted funds from shareholders is being blamed for the problem as club officials look to find a way to keep professional football going at Türkgücü.
Senior officials claim they did everything to avoid this scenario but admitted the insolvency declaration is inevitable. It is likely to result in a nine-point deduction, which would make avoiding relegation extremely difficult.
A statement from the German club read: “Türkgücü München Fußball GmbH & Co. KGaA has filed an application for the opening of insolvency proceedings with the district court in Munich.
“In the course of the process of re-licensing Türkgücü München Fußball GmbH & Co. KGaA for the 3rd division, a financial requirement was identified for the further planning of the 2021/22 season, which should have been offset by shareholder funds.
“After initially promised shareholder funds did not flow, the step of filing for the opening of insolvency proceedings became unavoidable.”
Managing director, Max Kothny, explained: “Up until the day the application was submitted, we tried everything in our power to avert this step.
“Even if that unfortunately didn't work out, it's now important not to see the situation as the end, but as an opportunity. We now have the opportunity to realign ourselves without the burdens of the past and with the help of possible new, strong sponsors.”
The club statement continued: “In which league a new structure can take place depends on sporting and financial factors.
“In terms of sport, the application will probably result in a nine-point deduction. With a
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