Interview: “It's embarrassing the amount of money I put into Panathinaikos”
IMAGO | Panathinaikos FC's President, Giannis Alafouzos.
Since becoming owner-president in 2012, Giannis Alafouzos has invested €120 million in Panathinaikos. Now he believes the Greek giants are finally at a turning point in their journey towards sustainability.
In an exclusive interview Alafouzos makes startling allegations about a culture of violence and corruption which he claims engulfs the Greek game.
Why it matters: In a nation where football is undermined by scandal and endemic financial losses, Alafouzos has waged a lonely battle for better governance, transparency and management.
The perspective: Panathinaikos is a case study in how the good intentions of supporters are difficult to monetise. Fans wanted to make the club member owned, but very few were ready to hand over money.
4 October 2023 - 2:59 PM
We are discussing the finances of the historic Greek club, Panathinaikos, when the club’s president, Giannis Alafouzos, goes into confessional mode.
Every year, he says, the club has revenues of around €16-18 million and he breaks the individual streams: €3-4 million from tickets, €9 million in TV rights, another €2-3 million in sponsorship, then there is €1.5 million from a government levy on betting companies.
But this is never enough to stop a deficit. Some years it can
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