Iraklis has decided against participating in the A2 division following its relegation from the top flight in spring and to go straight to the B’ Ethniki, relieved of all its debts, as the financial crisis has taken its toll on basketball, too.
The popular Thessaloniki club has had serious financial problems and feels that the best solution would be to drop one more level and to dissolve the professional basketball club as well.
It will now try to move back up from the amateur third-tier of Greek basketball. Its place in the A2 is taken by Doxa Lefkadas.
AEK had also contemplated a solution similar to that of Iraklis after getting relegated from the A1. However, late last month it decided to stay at the A2 division and to try secure some funding.
There had been talk of a possible merger with its namesake from Argos, which is also an A2 club. Now AEK and AEK Argous will both be vying for promotion to the A1 in the new season.