Savvidis set to save PAOK BC from financial ruin
According to reports, Ivan Savvidis is expected to provide the cash necessary to steer PAOK BC away from financial ruin.
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Nearly two weeks since PAOK BC’s board announced that the club is on the brink of financial ruin it appears that PAOK FC owner Ivan Savvidis is set to save the club with a much needed injection of cash.
PAOK BC’s board announced that the club is in need of €350.000 to paid unsettled debts part of which led to the club’s sanction from FIBA. The club’s board made the announcement prior to consulting with Savvidis and did so hoping to receive help from the PAOK community.
The announcement came as a further blow to the club’s image which was already on shaky ground following a 3-10 start to the Basket League season and an equally difficult opening to their Basketball Champions League campaign.
The desperate situation seemingly struck a chord with Savvidis as reports indicate that the 60-year-old is ready to provide the funding necessary to steer PAOK BC out of the red ink despite not having any stake in the basketball operations.
