New share capital increase for PAOK

It has been confirmed that PAOK owner, Ivan Savvidis, has decided to make a share capital increase of 28 million euros.

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At a press-conference, it was announced that Savvidis has taken the decision to make a share capital increase in PAOK FC of 28 million, with 300,000 of that assigned to equity and the remainder being set aside for the organisation’s premium fund.

The new share capital will reportedly now amount to 116,140,633,40 euros.

“When Razvan Lucescu left, the club from Saudi Arabia paid us two million and we then spent 2.5 million to sign a contract with Abel Ferreira from Braga,” revealed PAOK vice president and chief executive officer, Chrysostomos Gagatsis. “That situation was not an expected one. The Financial Fair Play system? Yes, our results in Europe have affected this, but we’re monitoring it well and we don’t have any problems. The matter is fully under control.”

Gagatsis also spoke about the situation surrounding Dimitris Meliopoulos, who announced his retirement from football at the age of 19: “Apparently, he said that he thought of leaving football last year. Our contract is still valid, so he is welcome to return if he wants. However, this doesn’t seem likely. The new stadium? It will be owned by Ivan Savvidis, while the land belongs to the PAOK amateur organisation. Maybe, Savvidis will then choose to give it to the amateur organisation, but he will still use the stadium. The right of use will belong to Savvidis’ company.”

PAOK, who won the Greek double last season, currently occupy second place of the Super League table with 20 points from eight matches. The Dikefalos tou Vorra were knocked out of Europe in the summer.

by Shaun Nicolaides

Image Source: to10.gr

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