Window Of Opportunity Emerges For Panathinaikos

Window Of Opportunity Emerges For Panathinaikos

Panathinaikos have been handed an unlikely window of opportunity in a bid to obtain a license to participate in next season’s edition of the Greek Super League, and subsequently avoid relegation.

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In order to obtain this licence the Greens must resolve their off-field debt issues, but there is a loophole in UEFA legislation that aids the fallen giants. Rule 57 (5) of the UEFA Licensing Regulation states that “in specific cases, the licensee may apply to enter into a voluntary agreement with the UEFA financial institution to fulfill the obligations of their balance sheet”.

As a result, UEFA allows Federations to grant a 3 year grace period to clubs facing “special conditions” in order to a license in domestic competitions and not to dissolve. Panathinaikos have until the end of the month to get the license so it is in the club’s best interests to request the EPO to present this UEFA. This would enable the club 3 years to resolve its well-documented financial issues.

This move would undoubtedly assist the League as a whole, especially since negotiations with OTE TV are still ongoing. The League cannot afford to lose another giant. The potential new broadcasters want to lock in a new contract with half of the current clubs and it is understood Panathinaikos and AEK are at the top of their wishlist.

Meanwhile, the club still appears to be confident of grabbing the license in spite of 100 fans showing up on the doorstep of former owner Giannis Alafouzos for the second time. It is believed the Dimitris Giannakopoulos’ proposal appeals to Alafouzos. This would also assist in resolving the debt if the 3 year grace period is granted.

In other news, the club is closer than ever to getting 3 points deducted as former German fullback Jens Wemmer will not accept any proposals given to him. In fact, he and his representatives do not even want to listen to them. Panathinaikos had one week from last week’s court case to settle the matter with the player, however, this will not be achieved. The Greens offered to make one installment of 100,000 Euro (as opposed to 50,000 Euro over 2 weeks) and 8 installments of 50,000 Euro after that.

by Nick Tsambouniaris
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