1) Are financial guarantees provided for in the memorandum of cooperation submitted by PAOK FC to A.S PAOK?

Yes, they are. Article 2.4 states exactly the following: “All necessary financial guarantees for the construction of the project will be provided at the time of the documentation of its total costing and in any case before the start of construction work”. That is, within the 12-month period when the studies will have been completed, the building permit will have been issued and of course before the work in Toumba will have started, the financial guarantees will have been provided.

2) What are the necessary basic conditions for the issuance of a letter of guarantee?

Letters of guarantee must be accompanied by a contract that refers in detail to the project to be implemented, its exact cost, the exact scope of work, the segmentation of the construction of the project, etc.

3) Can the letter of guarantee be issued by December 2025, as A.S PAOK states in its announcement?

No. And the authors of A.S PAOK’s announcement are well aware of this.

4) Why can’t it be issued by December 2025?

Because quite simply, by December 2025 we will not have the final and total costing of the project, nor will the remaining conditions for issuing a letter of guarantee be met, as the studies and final permits, which are necessary for the start of construction, will not have been completed.

When there is no exact amount and exact scope of the project, it is not possible to issue a letter of guarantee.

5) Is it necessary to have signed the memorandum of cooperation first?

Of course. Because the memorandum sets out the timelines (12 months for completion of studies and permits, 3 years for construction), and defines the main axes of the agreement, which are then specified with further contracts. It should be emphasized that in order for PAOK FC to immediately initiate actions for the final studies (for which it will pay several million), but also for the final permits, it needs the written consent of A.S. PAOK and its assistance in authorizations, certificates, provision of documents, etc. Therefore, it goes without saying that without the signing of the memorandum, no action can be taken from now on.

6) Compensation is provided for in the event that the timelines are not met, as well as the other terms of the memorandum.

Yes, they are provided for. Article 2.3 explicitly states the compensation that the guilty party will be obliged to pay for the violation of the terms of the memorandum.

We leave all of the above to the judgment of the members of the PAOK family so that they know the whole truth.