Panathinaikos to be kicked out of European football by the end of month, if it does not pay its debts
Time is running out for Greek football club Panathinaikos, as it could be faced with harsh penalties from next season if it fails to honour its outstanding financial obligations by the end of February.
The club faces the risk of UEFA banning it from all European football competitions and suspending its right to players’ transfers if the administration fails to settle its pending debts owed to third parties.
The Greek club is obliged to settle its arrears to other clubs and individual footballers by the end of the month, otherwise, it will be kicked out of all European competitions for one year.
According to newspaper “Prasini”, there is also the risk of a ban on transfers, as final verdicts have been reached regarding the four cases involving debts to Chievo (M’Poku), Hamburg (Berg), Ivanov and Saba. The total amount of these cases amounts to 500,000 euros and must be paid because UEFA will impose a ban on transfers from next summer.
You may be interested
Travel to Greece: Where to go in Argolis, PeloponnesePanos - Aug 16, 2018
Located at just under a 2-hour drive from Athens, the Argolis peninsula in the Peloponnese region offers many different historical…
Folegandros: Images of an undiscovered gemPanos - Aug 16, 2018
Shining under the Aegean sun, Folégandros was named after the son of King Minos. This off-the-beaten-path destination captivates the visitors…
The man who captures criminals for the D.E.A. by playing themPanos - Aug 16, 2018
On the afternoon of February 9, 2011, in a suite at the City Hotel in Bucharest, two men, hoping to…