Magnetospheric eternally collapsing object
The magnetospheric eternally collapsing object (MECO) is an alternative model for black holes initially proposed by Indian scientist Abhas Mitra in 1998 and later generalized by American researchers Darryl J. Leiter and Stanley L. Robertson. A proposed observable difference between MECOs and black holes is that a MECO can produce its own intrinsic magnetic field.
Source: Wikipedia — Magnetospheric eternally collapsing object (CC BY-SA 4.0)