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PAO BC owner Giannakopoulos in talks to gain majority stake of football club

Dimitris Giannakopoulos leaves for London to meet with prospective partners

The major shareholder of Panathinaikos basketball club, Dimitris Giannakopoulos will be traveling to London to meet with a group of investors who have expressed interest in financing a major project called “Athens Live”, which would include the purchase of the financially embattled football club from the current owner Giannis Alafouzos.
Newspaper “LiveSport” has revealed part of the letter sent by the consortium and Dimitris Giannakopoulos to Giannis Alafouzos. The letter details the terms of the prospective investors, some of which are:
1. The consortium will buy everything that has to do with Panathinaikos (football club), including the name and the majority stake.
2. The buyer will assume the financial obligations of the Football Club minus specific, mutually agreed debts.
3. The price will be agreed between the two parties.

4. Prerequisites include a). There will be a financial audit of the football club’s financial records. b). Shareholders will ensure that the data submitted for review is accurate. c). The final proposal will be approved by the Board of Directors of the buyers. d). All licenses associated with all issues pertaining to the OAKA project will be completed. e). The buyer will prepare an initial indicative agreement two weeks after Giannis Alafouzos signs the acceptance of the terms of the letter.