Panathinaikos attempting to overturn European ban
Giannis Alafouzos met with UEFA officials in Switzerland in an attempt to lift the European suspension given to Panathinaikos in 2018, as the team edges closer to obtaining a European qualifying spot.
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Details have emerged that Giannis Alafouzos, the majority shareholder of Panathinaikos, was at the UEFA headquarters in Nyon, Switzerland, two weeks ago to discuss the possibilities of overturning the suspension handed down to Panathinaikos by UEFA in 2018, due to a failure to repay debts at the time.
With the team sitting comfortably in the top-six of the Greek Super League ladder as the conclusion of the regular season nears, Panathinaikos are likely to grab a spot to participate in the UEFA Europa League next season. As a result, efforts have begun to lift the ban.
The Greens were infamously suspended at the back end of the 2017-18 season from participating in any continental competition for the first time in the next of the three seasons it would qualify. Since this looks like being this season, the team would not be allowed to play in the Europa League qualifiers and forfeit their spot if nothing was done.
By all reports, the meeting between the unpopular Alafouzos and UEFA officials took place in a good climate, and the club remains positive that the ban will be lifted. However, talks will continue, and there is more work to be done as the governing body gave no response.
Alafouzos showed UEFA officials financial statements that reveal the club’s debt has virtually been wiped off. The budget was drastically reduced, and strong efforts have been made to focus on blooding in young talents from the academy set up. In the last two seasons alone, several players have been given their first taste of senior football by Giorgos Donis. Also, things have returned to normal in the sense that players and backroom staff are being paid on time. Alafouzos also revealed that a plan is in place to show a surplus at the end of this season.
Alafouzos has invested approximately 34 million EUR in the last 18 months as the debt has been lowered from 50 million EUR to 17 million EUR. Operating expenses have been significantly cut, and former players attempting to take the club to court have been paid.
Former Hellenic Football Federation (EPO) President Sofoklis Pilavios stated two weeks ago that the club should feel confident. These sentiments were also recently shared by journalists from the Greek sports site “Sport FM,” even though it will not be straightforward. This is in line with the perceived view of UEFA, who are considering reviewing all recent similar cases, should the club abide by the rules and display genuine efforts at improving the situation. Panathinaikos have done just this. The governing body is also considering its stance on Financial Fair Play.
