to Bayer Leverkusen and VfL Wolfsburg. Both were founded as sports clubs for employees of major corporations (respectively Bayer and Volkswagen) long before the 50+1 rule was established. More recently, SAP co-founder Dietmar Hopp has gained control of 1899 Hoffenheim—where he had been a youth player—after having funded the club's rise from the lowest reaches of German football to the Bundesliga. RB Leipzig have been accused of bypassing the law through legal loopholes, essentially not being fan-owned and undermining the system. Shares of Borussia Dortmund, a German Bundesliga Club, are traded on the German stock market and are largely held by fans. TC Freisenbruch, a club which was founded in Essen in 1902, is managed completely by the fans. The team currently plays in the ninth division of the German football league. Since July 2016, the club is managed via a webpage, where the fans can make their decisions about, for example, the starting line-up or the prices for the jersey. Greece Aris Thessaloniki F.C. – From 2006 to 2014 Aris F.C. was fan-owned through Aris Members club .It went bankrupt and was relegated for the first time in its history to 3rd Division. Panathinaikos F.C. – Vardinogiannis family agreed in 2012 to transfer its 54.75% stake of the club to the "Panathinaikos Alliance" group. Each member will have one vote in decision-making procedures, regardless of how many shares each individual holds. As of 2016 Panathinaikos Alliance shares have been reduced to (15,12%). Indonesia Borneo FC – Borneo FC or formerly known as Pusamania Borneo FC was formed in 2014 by a group of Putra Samarinda FC supporters, the "Pusamania," who are unhappy with Putra Samarinda's lack of achievements for the past few years. With the financial backing of Nabil Husein of Pusamalaya, the Malaysian branch of Pusamania, Borneo FC rose in the ashes of the financially distressed Perseba Super Bangkalan, moving the East Java club to Samarinda and re-branding the team. India Travancore Royals FC – The club which was formed in 2018 by a group of passionate football lovers of Thiruvananthapuram City, Kerala is the first and the only fan owned professional football club in India. The club competes in Kerala Premier League, a fourth division state league in the country. Ireland Athlone Town Bohemians Cobh Ramblers Cork City Derry City Drogheda United Finn Harps Galway United Shamrock Rovers – After falling into examinership, the club became members'