PAOK FC Owner Repays Club’s €10.8 Mln Debt to Greek State

Ivan-SavvidisPAOK FC owner Ivan Savvidis made an interbank transaction to repay the team’s debt to the Greek state, putting an end to the nightmare that tormented the club for the last years. Meanwhile the relevant payment documents have already been presented to the Greek tax office.

Savvidis, a major PAOK FC shareholder, arrived at the tax office in a symbolic action to mark the occasion and make a statement to the press representatives regarding the issue and the club’s future development plans.

PAOK FC released an official statement on the matter: “PAOK is free. A historic day dawned for PAOK FC. As of today, the nightmare of debts is in the past because the club’s major shareholder, Ivan Savvidis, has successfully repaid the debts. During a 2012 interview, Savvidis stated that ‘PAOK’s debts are now my own. I leave no debts unpaid and soon PAOK will not have any debts either.'”

Furthermore, the statement noted that after repaying its debt, which amounted to 10.8 million euros, PAOK FC is now freed from the burden of its past, adding that this is the first time that the club chose to repay its debts in full.