More Twists in the Pan Asia Saga, Alafouzos Talks to UEFA
More Twists in the Pan Asia Saga, Alafouzos Talks to UEFA
AGONAsport's Nick Tsambouniaris talks about the developments of the Pan Asia transition while Giannis Alafouzos continues to fund the club for day to day operations.
Piempongsant Makes New Move
Earlier this month, it was reported that Pairoj Piempongsant’s acquisition of Panathinaikos FC was officially underway, with the Thai businessman buying former majority owner, Giannis Alafouzos’, shares in the club. It was then tipped he would begin investing money into the club from this week onwards (after the old regime had a 1 month period to settle all their debts from the last share capital increase).
This investment from Piempongsant has not happened to date and it has led to many wondering what is next. With the deal back on the rocks, Alafouzos has immediately quashed any speculation by claiming Piempongsant has deposited the funds into his bank account. This rumoured 1 million Euro will be credited towards the Football Club as part of the share capital increase.
According to Alafouzos, the reason for the delay was that the Pan Asia consortium has not yet been granted the relevant permission by the Professional Sports Committee. This permission is expected to be given within the next two weeks.
Naturally, as there has been no investment to date, many have begun to fear the worst but it is still very much “watch this space”. According to reports today, Piempongsant is expecting to make his first payment within 24 hours.
Alafouzos Still Contributing Funds
Just over one year ago, Alafouzos infamously declared that he had ‘pulled the plug. Onn his investment into Panathinaikos, leaving the club in disarray off the field. Fast forward 12 months and he is still contributing - to the point where he is now began paying past players and creditors in a bid to settle his debts. He is also expected to cover the October installment of payments to the current playing squad and all club employees.
It is unknown as to how and why his attitude has again shifted in relation to the club’s finances, but one can only wonder as to why this did not happen earlier to avoid points deductions, a ban from participating in European football, and heavy transfer restrictions.
Alafouzos is tipped to be in the ‘hot seat’ at Panathinaikos for at least the foreseeable future (as Pan Asia talks have dragged on for almost 7 months). The Memorandum signed between Alafouzos and Piempongsant could well expire. Until the Pan Asia takeover is official, Alafouzos will be the one making the key off-field decisions and the payments.
Alafouzos’ Meeting with Lakovic of UEFA
Mr.SKAI has also met with UEFA representative Zoran Lakovic in Athens and informed him of the latest off-field developments and the plan for consolidation in terms of the troubled finances at Panathinaikos. Lakovic was informed by Alafouzos that club management is in a position to settle debts, pay existing obligations and meet future deadlines.
Alafouzos’ intention was to have the European ban overturned now that the club is meeting its financial requirements and in a healthy position on the pitch after a great start to the season. As part of the ban, the Greens would not play in any European competition for the first time they qualify in any of the next three seasons.
Now that a European place is a serious chance, Alafouzos is hoping UEFA changes their mind and accepts his request to remove the restriction. A decision is not expected to be reached for some time.
by Nick Tsambouniaris
Image Source: to10.gr
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