Piempongsant proves Panathinaikos dodged a bullet
Pairoj Piempongsant, who was in the running to become the major shareholder of Panathinaikos in late 2018, has now encountered big problems with Mouscron in Belgium.
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Towards the latter stages of 2018, Piempongsant was involved in advanced negotiations with Giannis Alafouzos concerning a possible takeover of Panathinaikos, travelling to Athens as a deal appeared imminent. However, after the initial interest and conversations, the Thai businessman suddenly ceased all contact with Panathinaikos and the deal was taken off the table. Alafzouos, who is hugely unpopular among the fan base, remains the major Panathinaikos shareholder to this day.
It has since become evidently clear that Panathinaikos dodged a bullet.
Piempongsant currently owns Mouscron in Belgium. In the 2019/2020 campaign, Mouscron earned 36 points from 29 matches to finish in 10th place of the Jupiler League, but the club is now in severe danger of suffering relegation to amateur championships.
As a result of severe financial problems, Mouscron have been refused a licence to compete in the top tier of Belgian football, meaning they will be demoted to amateur leagues. According to reports in Greece, Piempongsant had been seeking help for Mouscron from England in January, and the coronavirus pandemic has resulted in the Belgian organisation running into deep economic trouble.
However, despite the gloomy outlook, Mouscron are confident of their appeal subsequently proving successful. The final decision concerning Mouscron’s future is expected to be revealed on May 10.
