PAOK free of burden!
It’s a historic day for PAOK FC. Their financial nightmare is over, as the club’s major shareholder Ivan Savvidis completed final payment of debts.
In his first press conference as PAOK FC major shareholder in 2012, Ivan Savvidis had said: “PAOK’s debts become now my debts as well. I owe nothing to no one and soon PAOK will not be owing either”.
The 12th of May 2015 is one of the most important dates in PAOK FC’s modern history, as their burden of debts is no more!
Through a series of personal interventions, Ivan Savvidis completed the final payment of all outstanding debts that had been a millstone around the club’s neck since the previous decade. PAOK FC’s case complied with the recent draft law that enables the club to pay the full amount of their debt!
By paying 10.886.911 euros, PAOK FC are freed from their past burdens! They can also boast being the only football company in history to choose full payment of all outstanding debts!