On this day: PAOK is released from its financial shackles
May 12 is perhaps the most significant date in the modern history of the Dikefalos tou Vorra. It’s the day when Ivan Savvidis helped the club make a clean break from its troubled past and remove the crippling debts to make the club ‘free’ once more.
Here is how the event was reported via paokfc.gr on that unforgettable day:
«A historic day has dawned for PAOK FC. As of today, the burden of debt is now a thing of the past after the club’s president, Ivan Savvidis, completed their payment. In his first press conference in 2012 given by Savvidis, he had stated: «PAOK’s debts are now my own. I do not owe anything anywhere and soon PAOK will be in the same position.»
Today, May 12, 2015, one of the most important days in the modern history of PAOK FC has been written, with the huge burden of our former debt finally a thing of the past!
Ivan Savvidis, through his personal actions, today completed the payment of debts that were pending and which have burdened PAOK FC since the previous decade, including the company in the recent legislation that provided the opportunity to pay off the entire debt.
With the payment of 10,886,811 euros, PAOK FC is now free from the burdens of the past, while it is the first and only club in history which has chosen to proceed with full debt repayment.»
Watch the PAOK TV videos showing the delivery of the debt payment documents to the Thessaloniki tax offices, and the comments made by Ivan Savvidis, and subscribe to PAOK’s official YouTube channel to be first to get all the latest club news and audiovisual content.
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