Ownership change begins at Panathinaikos

The transfer of Panathinaikos soccer club to the Pan Asia fund, led by Thai business man Pairoj Piempongsant, has officially started with club owner Yiannis Alafouzos announcing on Tuesday the signing of the agreement for the first stage of the transaction concerning the first half of his stake.

In a statement the majority stakeholder of the Greens announced that on Saturday the fund represented by the businessman - who also brokered the transfer of Manchester City - signed the deal for the first stage of the transaction, in the context of the ongoing share capital increase.

The statement actually leaves the door open to more entrants in the club's share capital should they wish to be part of the future ownership. There is a notable interest by the owner of the Panathinaikos basketball club, Dimitris Giannakopoulos through his Athens Alive international project...