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AEK President Kintis Welcomes New Investors
Kintis to stay but new investors welcomed...
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Jan 13, 2009 8:03:50 AM
AEK Athens president Giorgios Kintis has announced the club are now looking for new investors.
The decision arrives after speculation that Kintis had resigned from his role as president last week, though it looks as though he will now stay on as the club’s figurehead.
Melissanidis Take-Over?
A January 23 deadline has been set for €15 million of share capital to be raised through new investment, with many expecting former president Dimitris Melissanidis to use the opportunity to take a majority share in the club.
In an official statement, Kintis insisted that the current administration would consider all expressions of interest for stakes in the club, be they majority or minority.
The president said there is also a contingency plan in case the share capital isn’t raised before the specified deadline.
Vice-President Admits To ‘Mistakes’
Vice-president Nikos Koulis also spoke out on the decision to attract new investors, admitting to ‘mistakes’ having been made by his administration.
“AEK is a very big club,” Koulis said. “We made the mistakes and we will pay for them.
“The share increase is such that someone can either claim a majority or minority.
“We don’t want AEK to be a prisoner, if someone wants to … help the club then they can.”
Koulis’ comments echo concerns raised by former president Demis Nikolaidis, who spoke about the club’s continuing debts and lack of financial gain.
Reports in Greece had suggested that Kintis saw a part-sale of the club as the only way out of the current financial situation, a view not shared by all members of the current administration.
Koulis also stated that AEK is running at an annual loss of €10 million, with the current economic climate in Greece making it increasingly difficult for shareholders to bear the burden of the club’s continuing debts and expenses.
Familiar Story
Rivals Panathinaikos had themselves embarked on a similar scheme during the summer, with traditional owners the Vardinogiannis family selling a large part of their majority stake in the club.
The subsequent share capital increase resulted in extra spending power for the Athenian club, whose raised a transfer budget of over €20 million as a result.
Koulis is hoping the part-sale of AEK has a similar effect during the current transfer window: “It is January and the team need to make signings.
“We have drawn up a budget with a logical framework.
“We are pleased with the progress of the team but some additions are required.”
Chris Paraskevas, Goal.com
The decision arrives after speculation that Kintis had resigned from his role as president last week, though it looks as though he will now stay on as the club’s figurehead.
Melissanidis Take-Over?
A January 23 deadline has been set for €15 million of share capital to be raised through new investment, with many expecting former president Dimitris Melissanidis to use the opportunity to take a majority share in the club.
In an official statement, Kintis insisted that the current administration would consider all expressions of interest for stakes in the club, be they majority or minority.
The president said there is also a contingency plan in case the share capital isn’t raised before the specified deadline.
Vice-President Admits To ‘Mistakes’
Vice-president Nikos Koulis also spoke out on the decision to attract new investors, admitting to ‘mistakes’ having been made by his administration.
“AEK is a very big club,” Koulis said. “We made the mistakes and we will pay for them.
“The share increase is such that someone can either claim a majority or minority.
“We don’t want AEK to be a prisoner, if someone wants to … help the club then they can.”
Koulis’ comments echo concerns raised by former president Demis Nikolaidis, who spoke about the club’s continuing debts and lack of financial gain.
Reports in Greece had suggested that Kintis saw a part-sale of the club as the only way out of the current financial situation, a view not shared by all members of the current administration.
Koulis also stated that AEK is running at an annual loss of €10 million, with the current economic climate in Greece making it increasingly difficult for shareholders to bear the burden of the club’s continuing debts and expenses.
Familiar Story
Rivals Panathinaikos had themselves embarked on a similar scheme during the summer, with traditional owners the Vardinogiannis family selling a large part of their majority stake in the club.
The subsequent share capital increase resulted in extra spending power for the Athenian club, whose raised a transfer budget of over €20 million as a result.
Koulis is hoping the part-sale of AEK has a similar effect during the current transfer window: “It is January and the team need to make signings.
“We have drawn up a budget with a logical framework.
“We are pleased with the progress of the team but some additions are required.”
Chris Paraskevas, Goal.com
| Sign up with 188BET for a FREE bet up to £25 – Great Prices, Every Game |
|
| Open an account with Sportingbet today and get up to £100 in free bets! |
|
| Sign up with William Hill for a free bet up to £25 |
|
| Sign up with bet365 for a free bet up to £200 |
|
| Sign up with Paddy Power for a free bet up to £50 |
|
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