Departures continue at Panathinaikos as share capital increase set to take place

Vangelis Oikonomou departs Panathinaikos after a two-year stay, teenage sensation Giorgos Vagiannidis looks likely to stay, and a five million euro share capital increase is set to take place.

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Oikonomou leaves the Greens

Experienced centre-back Vangelis Oikonomou officially left Panathinaikos after a nearly two-year stay at the club. The 32-year-old took to social media to confirm what many were anticipating - that he will depart the Trifylli. He wrote on his Instagram page, “Two years of a lot of trying, filled with highs and lows have come to an end. It was an honour to wear the shirt for such a big club. I wish good luck to the team and hope it returns to where it belongs.”

Oikonomou was signed by Marinos Ouzounidis in January 2018 and went on to make 24 appearances. He has been out of favour by Giorgos Donis since last season. The player will have no difficulty in finding a new club as Volos have been heavily linked in recent days. The Thessaly club seek reinforcements to beat relegation in their first season in the top flight.

Panathinaikos also returned the favour and wished Oikonomou well in the future, issuing a statement shortly after the news broke.

Funds freed up

Following the departure of numerous high wage earners who were not in the manager’s plans, Panathinaikos have already freed up funds to spend in next month’s transfer window. This is vital for the club as the budget is tight, and the only way new Technical Director, Xavi Roca, can buy genuine quality is to free up funds.

Anthony Mounier and Fanis Tzandaris have joined Oikonomou out the exit door at Koropi. Neither were in Donis’ plans, and both were relatively high earners.

Now that both players are no longer on the club’s books, Greek sports outlet “Sport 24” reported that Panathinaikos will save an estimated 200,000 euros in wages until season’s end. Mounier will save the club 110,000 euros; meanwhile, Oikonomou will save 90,000 euros.

This estimated 200,000 euros will be what Xavi Roca looks to hand out to a prospective new signing in terms of wages. In other words, the departure of two players will bring in one new face.

Super talent set to commit future to Panathinaikos

Young gun, Giorgos Vagiannidis, is closer than ever to accept the Greens’ contract offer. The 18-year-old right-back, who made his debut in a Greek Cup match against Panachaiki earlier this season, will reportedly turn down offers from European clubs such as Monaco (who were genuinely interested).

The teenage sensation has been known to Greek football fans for some time and is tipped by many to become Greece’s long-term solution at right-back for the years to come.

According to “Gazzetta.gr,” the player will commit to Panathinaikos in a bid to further his career and develop his game in Greece, as opposed to abroad. Negotiations are “on the right track” at the moment.

Five-million euro share capital increase

Club management has called for an extraordinary general meeting set down for the 13th of January, 2020, in which a new share capital increase will be announced.

The amount is expected to be in the region of five million euros. This development was made public via a statement issued by the club stating that the Board of Directors will invite shareholders to a meeting where various items, such as increasing the share capital by a further five million euros, will take place.

A payment of five-million euros is set to be made to the club’s special account, or if the amount is not paid into the nominated account, a deposit will be made to offset the club’s debt.

Therefore, upper management, led by Giannis Alafouzos, is perceived to be looking at reducing (or wiping out) the club’s debt for things to return to normality. He could be doing this to make the club more attractive to prospective buyers; however, none appear to be on the horizon. On the other hand, he might want to reaffirm his commitment to the club.

by Nick Tsambouniaris

Image Source: to10.gr

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