Ivan Savvidis becomes main shareholder in PAOK

Russian politician Ivan Savvidis (photo) has become the majority shareholder in PAOK soccer club and promised to rid the financially troubled team of its debts.

Savvidis, who is of Pontian Greek descent, has experience of running soccer clubs in Russia but has been attempting to buy the Thessaloniki club for the last six years.

Savvidis said he would seek cooperation with Russian clubs to boost PAOK?s playing staff and Russian companies for sponsorship deals.