Wednesday August 27, 2014 Search
Weather | Athens
31o C
24o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
AEK set for liquidation and third tier

AEK Athens said on Tuesday it was preparing to declare bankruptcy and seek relegation to the third division.

AEK was relegated from the Super League for the first time in its 89-year history in the season that ended in May. It is in serious financial difficulties and reported to owe 170 million euros in taxes.

Almost the entire first-team squad was sold off to secure a licence and preserve their top-flight status at the start of the 2012-13 season.

At an emergency shareholders' meeting on Tuesday, the club announced it would not play in Greece's second tier next season and would formally begin the process leading to liquidation when its new board meets on June 7.

"Following today's extraordinary general meeting of AEK a new three-member board of directors was elected, the club said in a statement.

"The board will hold a new general meeting on June 7 to discuss the liquidation of the company and the appointment of liquidators.

"Also the club has decided to submit a statement to the Football League organization that AEK will not participate in the Football League's second division."

Oil magnate Dimitris Melissanidis is expected to take control of the club in a rebuilding project that could include the construction of a new stadium. Melissanidis, 61, served as AEK president from 1992-93 and 1994-95.

AEK is traditionally Greece's third biggest club behind Olympiakos Piraeus and Panathinaikos. It was penalized three points for a pitch invasion in its penultimate match which was abandoned as a result.

The infamous Nazi-salute goal celebration of midfielder Giorgos Katidis last month was another blow to AEK's reputation.

Katidis was banned by AEK until the end of the season and received a life ban from all Greek national teams for making the gesture after scoring the winning goal in a league game against Veria.

[Reuters]

ekathimerini.com , Tuesday May 14, 2013 (20:30)  
Ranieri brings in new faces for his first Greece squad
Roma signs Greece defender Manolas from Olympiakos for 13 mln
Panathinaikos held in Super League opener, loses striker Berg to injury
Soccer refereeing investigation goes into final stage
Greek pop idol Michalis Hatziyiannis detained over suspect car theft report
Pop singer Michalis Hatziyiannis and his accountant were detained on Wednesday on charges of submitting a false statement after the latter allegedly reported to police that the license plate...
Prolific swindler netted by Thessaloniki police
A 44-year-old fugitive believed to have defrauded at least 22 elderly Thessaloniki residents out of more than 67,000 euros has been arrested, police in the northern port said on Wednesday. A...
Inside News
Greek stocks rise for seventh day, but only just
The Athens stock exchange general index rose but by the tiniest of margins for a seventh straight day on Wednesday as it hit 1,177.49 points, an increase of 0.01 percent. The benchmark f...
Ryanair to submit bid for Cyprus Airways
Ryanair Holdings Plc will submit a non-binding offer for Cyprus Airways on Friday as Europes No. 1 discount carrier seeks to extend its footprint eastward to an island increasingly popular ...
Inside Business
COMMENTARY
Diplomacy, not dogmatism
A friend who moves comfortably within the circles of the European establishment recently described a particularly interesting experience when he found himself in a discussion behind closed d...
EDITORIAL
Preachers of hatred
Engaging in public dialogue regarding whether the anti-racism bill is mandatory and sensible is both legitimate and necessary at this current point in time. In the meantime, however, regardl...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Greek stocks rise for seventh day, but only just
2. Greek pop idol Michalis Hatziyiannis detained over suspect car theft report
3. Prolific swindler netted by Thessaloniki police
4. Ranieri brings in new faces for his first Greece squad
5. Nearly 2,000 Europe-bound migrants have drowned this year, UN says
6. Detained GD deputies granted permission to attend swearing in ceremonies
more news
Today
This Week
1. ND gains one deputy as ousted MP sworn in Lamia mayor
2. Draghi soothes bond market after summer of strife
3. Venizelos hails Gaza ceasefire
4. ND honorary president taken to hospital
5. Ryanair to submit bid for Cyprus Airways
6. Bishop Vartholomaios of Megara and Salamina dies
Today
This Week
1. Carved sphinxes at Ancient Amphipolis tomb will not be removed
2. Brussels warns Greece over plans to allow construction near Korinos beach
3. Logged out of reality
4. Merkel cites euros construction flaws as economy sputters
5. Second man held over double murder in Mani
6. Attack on gay couple in Athens leaves one man needing surgery
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.