Panathinaikos seeking UEFA hearing in early May
Panathinaikos are seeking a UEFA hearing in early May in an attempt to overturn the European ban handed down in 2018, as optimism remains high due to a significantly improved financial position.
Panathinaikos have embarked on a vital two-month period as they attempt to lift the infamous UEFA ban handed down by Europe’s governing body in 2018. This ban resulted in the Prasini not being allowed to participate in any European competition in any one of the next three seasons (the ban would get lifted after the team qualifies for Europe for the first time). For instance, finishing in a qualifying spot this season would mean the team cannot play in Europe next season, but this is what the club is seeking to overturn.
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Three central issues are vital to overturn this ban: obtaining a licence to participate in next season’s Greek Super League, the sustainability plan, and a meeting with UEFA in early May.
Licence Issue
Unlike other years gone by, it is expected that the Greens will have no issue in obtaining a licence to participate in next season’s Championship. The deadline to present a case to obtain a licence ends on the 31st of March.
UEFA is currently investigating the matter through an audit, and all indications point to the Trifylli presenting a flawless file. This would mean that the club has significantly reduced its debt and as of the 31st of December, 2019, is up to date with paying all current players and does not owe any previous player anything.
Sustainability Plan
The sustainability plan focuses on the following matters: sufficient financing, smaller debt compared to previous years, reduced running costs, and guaranteed revenue from a TV deal and player sales.
Panathinaikos have drastically lowered their debt through various share capital increases authorised by Giannis Alafouzos as he began investing in the club again. The first three aspects of the plan will be easily met as the club has turned to its Academy to develop young talents and, in turn, cut costs.
The only issue, for now, remains the TV deal as the contract Panathinaikos currently have with NOVA expires this summer, and the landscape based around pay television channels is uncertain. However, this is an issue for most other teams in the Championship right now, and it is expected Panathinaikos will commit to a deal in the coming months.
UEFA Hearing
Panathinaikos have requested a meeting with UEFA in early May in a bid to overturn the aforementioned ban. By then, club management hopes to have settled the licencing issue, which will bode well in its attempt to lift the ban. Alafouzos, who has already met with UEFA officials, will also present detailed financial statements that will illustrate a sustainable financial position. He is hoping for a positive outcome.
Consequently, optimism remains high from those within the club that this ban does in fact get overturned as the team can play in Europe starting from next season (should they end this season well domestically to clinch a spot in the early rounds of UEFA Europa or Champions League qualifying).
