Panathinaikos sports club, which runs the amateur divisions of the historic team, has come to an official agreement with Panathinaikos FC after signing a bilateral contract regarding the Votanikos stadium in Athens, the construction of which recently received the go-ahead by all parties.
– At 500,000 euros rent
The dispute between the Amateur division and the football club concerned the cost of rent requested by the former for use of the facilities by the professional football team.
Although talks between the two parties had reached an impasse, negotiations resumed after pressure resulting in a deal on the matter.
The football club proposed an annual rent amounting to 500,000 euros, a suggestion accepted by PAO, with the rent cost added on to the sum already agreed upon.
The funds will boost the revenue of the Amateur divisions to almost three million euros annually.
The next step is for both parties to ratify the contract and then the General Assembly of the amateur club to approve all the agreements concluded by the management of the association for the large scale urban redevelopment plan. The exact timetable of the next phase remains unknown in light of the new lockdown.
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