The spokesman for the Saudi prince is certain that a £25.5million transfer will be struck by the end of 2011, as his employer negotiates a deal to take over the Super League club
The Saudi prince is in talks to buy the club, who are currently top of the Greek Super League with six wins in their first seven games, and expects to be in control by the end of 2011.
Al Saud has set his sights on the 2002 World Cup winner as a marquee signing to begin his tenure, and is certain that he will soon reach a lucrative deal with the Rio de Janeiro outift.
"Ronaldinho will be in Athens on December 17 to sign for Panathinaikos," the Sultan's spokesman Vlassis Tsakas told Novaspor FM on Tuesday.
"We have made contact with Ronaldinho's agent, and of course the player himself is aware of the move. He is an expensive player but we will do everything we can to overcome the difficulties, I can see this going ahead."
Tsakas also stated that his employer would be prepared to pay up to £25.5million for the former Barcelona and Milan star, which would be covered through sponsorship deals.
Neither the player nor Flamengo have commented on the possibility of a move to Greece, with Ronaldinho having only signed for the Brazilian club at the start of 2011, after ending his time with Milan.