Thursday October 30, 2014 Search
Weather | Athens
19o C
12o 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)  
Greece drops Samaras for Euro 2016 qualifier
Panathinaikos and PAOK retain perfect record
Gattuso recalls resignation from OFI bench
Dull Super League derby ends in Olympiakos victory
IMF cautions Greece on early withdrawal from program
The IMF said Thursday that Greece is not ready to rely solely on commercial markets for financing, after Prime Minister Antonis Samaras said the country might exit its bailout early. With mo...
In Athens, NATO chief sees spike in Russian flights on border
NATO's new chief said on Thursday the alliance is increasing its readiness and air policing following a spike in Russian air force activity in Eastern Europe. Jens Stoltenberg said while NAT...
Inside News
Italy, Greece banks lead Europe decliners amid capital concerns
Italian and Greek banks led stock declines among the regions lenders after European Banking Authority Chairman Andrea Enria said stress tests completed last week arent foolproof and more m...
European stocks tumble as banks decline after Enrias comments
European stocks retreated, erasing earlier gains, as banks from peripheral euro-area nations tumbled. U.S. index futures and Asian shares also declined. The Stoxx Europe 600 Index fell 0.7 p...
Inside Business
COMMENTARY
Time is running out in Afghanistan
Thirteen years after the attacks on the Twin Towers and NATO's entry into the war in Afghanistan, things remain pretty much unchanged: Political instability and insecurity reign in the Cent...
COMMENTARY
Cool heads required
Its time for Athens and Nicosia to deal with the current situation in Cypruss Exclusive Economic Zone (EEZ), which a Turkish seismic research vessel has breached against international law,...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. IMF cautions Greece on early withdrawal from program
2. In Athens, NATO chief sees spike in Russian flights on border
3. Greece drops Samaras for Euro 2016 qualifier
4. Germany denies backing proposal for Greece to exit aid program
5. Boy, 13, dies after falling from fifth floor in Thessaloniki
6. Italy, Greece banks lead Europe decliners amid capital concerns
more news
Today
This Week
1. Greek euro dilemma is back as minister predicts volatility
2. Students hijack university senate meeting
3. Clientelism belongs to the past, says Mitsotakis
4. Over 1,500 buildings and vehicles damaged in flash floods
5. European stocks tumble as banks decline after Enrias comments
6. Peripheral banks lead European shares lower after positive start
Today
This Week
1. At least 11 banks to fail European stress tests, three in Greece, report says
2. Austrias creative bookkeeping beats Greece on secret debts
3. Cyprus to block Turkey's EU talks after EEZ violation
4. End of reason, end of humanity
5. Clean bill of health for Greek banks from stress tests
6. Samaras pledges action after flash floods in Athens
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.