Reigning volleyball champion and former European Cup finalist Iraklis has been sent to the A2 division as of next season, pending an appeal.
A sports judge found on Thursday that the Thessaloniki giant has failed to produce documents that would prove they have paid their tax and social security dues, mostly due to debts to former players, and has had its license revoked from the Professional Sports Commission (EEA).
Iraklis announced it will immediately launch an appeal at the supreme sports court (ASEAD), but the fact that the decision does not apply until next season allows for the smooth continuation of the Greek league for the time being. The Macedonian team currently lies eighth in the table of the 12-club league.
Iraklis won five times the Greek league between 2002 and 2012 and has played in three Champions Cup finals. It is also the holder of the Greek Cup, that has won six times in total.