Panathinaikos changes hands - Agreement between Alafouzos and Pan Asia

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PAE Panathinaikos is even closer to the next day! The major shareholder of the "green" PAE, through an announcement issued on Saturday afternoon, essentially makes known the agreement with the fund represented by Pairi Piengponsad (Panasia) for the transfer of the majority stake of PAE Panathinaikos! A fact that will mean the change of page in the "clover" and the entry of the deal in its final straight so that the club can move on to the post-Alafouzos era!

As far as we know so far, Pan Asia's proposal is as follows:

* 13 million euros for debts to tax and public.

* 7 million euros for the training center in Koropi.

* 7 million for the committed TV contract.

* 20 million for the needs of the team next season.

In order for Panathinaikos to finally turn the page and pass into the hands of Panasia, the fund will have to put into practice the offer to Giannis Alafouzos and "show" the 27 million euros in AMK that will be announced by the "green" PAE. Once that happens, 'mr. SKAI "with one euro will concede the majority package of the company's shares ..

THE ANNOUNCEMENT PUBLISHED BY YANNIS ALAFOUZOS DETAILS DETAILS:

Mr. Alafouzos with an absolute awareness of responsibility towards the historic team of Panathinaikos takes seriously any proposal that could ensure the future of the team.

In recent days, he thoroughly discussed PanAsiaInvestments' proposal for the purchase of the group. Today, Mr. Ioannis Alafouzos in a letter informed PanAsiaInvestments that he accepts her proposal.

Mr. Alafouzos' letter is as follows:

"Dear Mr Piegponsad,

Thank you for your letters dated March 28, 2018 and April 16, 2018.

As discussed in our last meeting, I intend to transfer all the shares of PAE Panathinaikos that I have in my possession directly or indirectly, for € 1 (one euro) in total, in exchange for the increase of the share capital, from your investment scheme directly to PAE , amounting to € 27 million (twenty seven million euros), according to your binding offer of April 16, 2018.

We look forward to your prompt response to the implementation of our agreement.

Sincerely,

Ioannis Alafouzos »