Court says no to funding for Panathinaikos FC stadium

The sixth section of the Court of Audit on Wednesday upheld an earlier ruling that Panathinaikos soccer club should not receive 7 million euros from the Attica Regional Authority to improve its stadium at Alexandras Avenue in central Athens.

The club wants to make a number of improvements to the stadium, including increasing its seating capacity to 20,000 and creating parking spaces.

In September, the court found that the transaction, approved by the previous Attica governor, Yiannis Sgouros, was not in the public interest.

Judges also said the deal did not make financial sense as Panathinaikos is due to move to a new stadium in Votanikos in five years.