UEFA handed Panathinaikos and AEK suspended one-year bans from European competition on Thursday for falling foul of the financial fair play rules as they had mounting debts, effectively securing a postponement for some 40 days.
The two Athens giants are victims of the financial crisis dogging the country and will now have to show European soccer’s governing body some adequate revenues by March 31 or face a suspension from European competition next time they qualify.
If the two clubs show tangible proof of streamlining efforts as far as their finances are concerned, they will be spared the ban, but will still have to pay a fine, the UEFA disciplinary committee ruled. Panathinaikos must pay 75,000 euros and AEK 150,000 euros.
PAOK has also received a suspended one-year ban, but the review of its case is scheduled for this summer.