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Blackhawk    799

During a General Assembly of PAE PAOK today, Ivan Savvidis increased the operating budget by 19.5 million Euro.  Some of this money will be in a form of a loan from Dimera to PAE PAOK. reports say that eventually the loan will be turned into shares of the team. 11.4 million from this will be used pay off the team's debt to the government. The rest will be used to cover the operating loss for the last season.

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pash    1,245

An operating budget would imply an annual sum - surely this is a one-time amount?

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Blackhawk    799

For you guys in Boston and Toronto as well mark your calendars.

 

The 2004 NT veterans that won the Euro plans on playing friendly games against the Portugal veterans in June.

 

PAOK will be represented by Georgiadis and Papadopoulos.

 

 

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pash    1,245

Yeah, they're playing in Lawrence, MA. It is literally a high school football stadium, which sometimes hosts 3rd-division soccer. Might go if it's cheap, I guess.

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Blackhawk    799

Vryzas was officially announced as the new TD by Veroia. This basically means he is finally out of making decisions at PAOK.

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pash    1,245

Let's hope for a blockbuster move to follow by them to bring Tziolis, Tzavellas, and whoever else we don't need over.

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Blackhawk    799

On Wednesday PAOK plays the Euro 2004 NT in a charity game. I hope Gergiadis is not that stupid to play the starters in this game. The way the injuries happen at PAOK these days I would not risk it at all. BTW Georgiadis will coach PAOK for one half and then play for the NT in the other half. Otto is supposed to the NT coach.

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Blackhawk    799

Yes, every obstacle has been resolved, and the payment to the taxing authorities is supposed to take place tomorrow or Wednesday. 

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Serraios    10

going to be a massive weight lifted once we a debt free.

hopefully that will bring some surety around the club and improvements in the football department.

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pash    1,245

I still have trouble believing he'll invest beyond that. I can't see what the return would possibly be for him...why throw more money after bad? As I said on the old forum, if he does nothing more than pay off the debts and let the club steam along, I will still be grateful.

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cocksta    727

10.886.000 Euro by your owner now pays off your debts if only he surrounds himself with smart football people then maybe PAOK can do something in the next coupe of years.

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Blackhawk    799

So it cost Savvidis close to 11 mil to pay the debt created by the crooks (Batatoudis, Goumenos, Zagorakis, etc.). Big feat considering he did not create a single Euro in debt since he took over. He paid dearly for other people's mistakes. This move Ivan, can only mean one thing. He is not going anywhere. Now I expect him to proceeds with his other plans (new training grounds/refurbished Toumba).

Hopefully he will also clean up the front office and hires people that will try to make the team competitive.

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pash    1,245

You know how we love our conspiracy theories, fearless leader. What's his play??

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mcp4    5

during his interview we heard Ivan mention that his son is in Spain (i think?) in talks with people over there in regards to PAOK... i guess PAOK is becoming a family thing for the Savvidis'

 

more reason to clear debts...

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mcp4    5

during his interview we heard Ivan mention that his son is in Spain (i think?) in talks with people over there in regards to PAOK... i guess PAOK is becoming a family thing for the Savvidis'

 

more reason to clear debts...

 

nevertheless, a massive day for PAOK!

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mcp4    5

during his interview we heard Ivan mention that his son is in Spain (i think?) in talks with people over there in regards to PAOK... i guess PAOK is becoming a family thing for the Savvidis'

 

more reason to clear debts...

 

nevertheless, a massive day for PAOK!

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Bananas    976

Gotta admit, I'm surprised.  None of the debt was his and morally he could never have paid it back and I wouldn't hold it against him.  As others suggested, it does mean he's in for the long term, which is a great thing compared to the crooks we had before!

 

Maybe it was a tactical move from him.  The debt in theory was never ever going to go away, so paying the $11M compared to the original $30M (or whatever the amount was) was probably the best deal he was ever going to get.  I suppose it means the issue is buried now and any future government doesn't have something with which to hold the club to ransom.

 

Does this mean we are entire debt free ?  Nothing else outstanding ?

 

What is this never ending talk about needing a new training ground ?  Is our current one so bad ?

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pash    1,245

The one that was in the plans from a year back, seemed excessive for us. Even if all of the teams practiced simultaneously. I'd be much more interested in a covered stadium. Get that incredible atmosphere tuned just right, acoustics-wise...would be a sight (and sound) to behold.

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Serraios    10

aside from being debt free and winning a title one thing all PAOK fans would dearly love to see is Toumba upgraded. That ground refurbished would be an amazing site.

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