Post by jimmyjump on Sept 10, 2010 15:40:43 GMT 10
Good news for PAO
Nikolas Pateras is back at the chair of Panathinaikos following the meeting that he, Yiannis Vardinoyiannis and Andreas Vgenopoulos had on Wednesday afternoon.
The three main shareholders of the Greens also decided not to proceed with the free concession of the 25 percent stake Vardinoyiannis had offered them on Monday, but to conduct a new share capital increase next summer instead, during which Vgenopoulos and Pateras will buy the stake at its normal price.
After a three-and-a-half-hour meeting at a hotel on Syntagma Square, the three businessmen emerged with smiles and the confidence that their united front fills them with for the future of the Greek champions.
“Panathinaikos is today entering a new era of multiple ownership,” a statement signed by all three men suggested, as was read out to journalists and fans by Vgenopoulos after the meeting.
“Mr Vardinoyiannis, Mr Pateras and Mr Vgenopoulos have clarified all issues, guided by the interest of the football club. Mr Pateras is returning as president, the free concession was not accepted and it was agreed that the 25 percent stake will be covered through a further share capital increase to take place at the end of this season. The current share capital increase will be covered by all [shareholders]. We thank [outgoing president Nikos] Constantopoulos for taking care of the presidency,” the statement read.
“We had a four-hour meeting. We have solved all misunderstandings and we proceed united for the good of Panathinaikos. I am taking over as president as of now,” said Pateras, who returns to the club’s chair after three and a half months
Pateras and Vgenopoulos, who between them will obtain the majority stake of 50.8 percent next summer, reportedly asked for guarantees that there would be no “internal war”, probably referring to the newspapers influenced by Vardinoyiannis and the other major shareholder, Pavlos Giannakopoulos.
They also discussed the cost of the construction of the new ground at Votanikos, amounting to about 140 million euros, which Vgenopoulos considers excessive.
Constantopoulos later issued a statement suggesting that his resignation is self-evident given the latest developments.
Nikolas Pateras is back at the chair of Panathinaikos following the meeting that he, Yiannis Vardinoyiannis and Andreas Vgenopoulos had on Wednesday afternoon.
The three main shareholders of the Greens also decided not to proceed with the free concession of the 25 percent stake Vardinoyiannis had offered them on Monday, but to conduct a new share capital increase next summer instead, during which Vgenopoulos and Pateras will buy the stake at its normal price.
After a three-and-a-half-hour meeting at a hotel on Syntagma Square, the three businessmen emerged with smiles and the confidence that their united front fills them with for the future of the Greek champions.
“Panathinaikos is today entering a new era of multiple ownership,” a statement signed by all three men suggested, as was read out to journalists and fans by Vgenopoulos after the meeting.
“Mr Vardinoyiannis, Mr Pateras and Mr Vgenopoulos have clarified all issues, guided by the interest of the football club. Mr Pateras is returning as president, the free concession was not accepted and it was agreed that the 25 percent stake will be covered through a further share capital increase to take place at the end of this season. The current share capital increase will be covered by all [shareholders]. We thank [outgoing president Nikos] Constantopoulos for taking care of the presidency,” the statement read.
“We had a four-hour meeting. We have solved all misunderstandings and we proceed united for the good of Panathinaikos. I am taking over as president as of now,” said Pateras, who returns to the club’s chair after three and a half months
Pateras and Vgenopoulos, who between them will obtain the majority stake of 50.8 percent next summer, reportedly asked for guarantees that there would be no “internal war”, probably referring to the newspapers influenced by Vardinoyiannis and the other major shareholder, Pavlos Giannakopoulos.
They also discussed the cost of the construction of the new ground at Votanikos, amounting to about 140 million euros, which Vgenopoulos considers excessive.
Constantopoulos later issued a statement suggesting that his resignation is self-evident given the latest developments.
