More Trouble For An Already Damaged Panathinaikos
Summer signing hopeful, Andres Chavez, is on his way out of Panathinaikos while the club could be handed a January transfer ban by UEFA due to the current financial status.
The signing of Argentine striker Andres Chavez this summer as a replacement for the deadly Marcus Berg brought about much hype and fanfare but the transfer has proven to be a massive bust. It has now been revealed that Panathinaikos held talks with Chavez’s agent in order to reach a resolution but the player is adamant he will not be returning to Greece at all to fulfill his obligations, even though his agent emphasised the importance of him returning to the Green camp. His poor cameo at Peristeri against Atromitos was his final appearance in Green.
Consequently, Panathinaikos are looking to terminate his contract without paying him out. This would assist the club in terms of finances as he would have been one of the big earners and it rids the squad of an unsettled player who never wanted to be there during the tough times when everyone needs to band together.
Another unwanted saga facing the troubled club is the impending threat of a transfer ban from UEFA. The body has been monitoring the entire situation in terms of finances and has now stated Panathinaikos may not be allowed to sign players in the upcoming January transfer window due to the fact that there are five cases still open between the club and former players and teams. Contacts with two cases have already begun with the remaining three set to start in the near future.
Additionally, final licensing decisions are made in April. The process for teams dealing with such issues is the imposition of penalties and the first of these who have debts to various groups, players and coaches is a transfer ban, On top of that, however, if Panathinaikos wants to get a European license in April, it is estimated it needs 15 million Euro. A figure that is highly unlikely to be attained based on the existing financial data.
In other words, more unwanted headaches for a fallen giant. When will the rot stop?