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Correction: The reasons that brought the “no” – What about the debts

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Why the proposal to transfer the shares was voted down and what debts are transferred to the association

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<p><em><strong>Theodoros Tsiolakis</strong></em></p>
<p><strong>The members of the General Assembly voted against the proposal to transfer the shares of the Pullaidis family to union, which also brought the thoughts of Christos Hatzistefanos to resign.</strong></p>
<p>More specifically, the resignation of the union's president and its board of directors is expected to be clarified today. In case they resign, Anorthosis will be led to a new electoral assembly.</p>
<p>Regarding the reasons that brought the “no” of the General Assembly, it is because it was considered by the majority that since the existing management agreement expires on 31/05 there was no reason to renew it since the union only receives debts from the company . At the same time, Pullaidis had set as conditions to renew the management agreement for 10 years and to receive money from Champions Shares (15% of the net profits, 4.5 million had been allocated; Pullaidis bought the 3), which they did not see with a good eye the members of the assembly.</p>
<p>After the non-transfer of the shares and the fact that the agreement between the company and the union expires, the football department from June 1 goes to the union. At the same time, the debts of the company that fall under UEFA's criteria will also be transferred to the association, i.e. the debts to players and coaches. State debts are also transferred to the association. Regarding debts to third parties, such as suppliers and services, the debt is not transferred to the union, but most cases are people who helped Anorthosis and maintain a close relationship with the union.</p>
<p>Regarding the company's debt to Pullaidis, an amount of 6.3 million euros, is not transferred to the club, therefore the club does not owe this amount to the major shareholder. On the other hand, Pullaidis claims that the union owes him the amount of 1.8 million euros. This amount was considered unclear by several members of the assembly since the Pullaidis side requested that the association recognize it, and it will be clarified later what applies to this amount.</p>
<p>In essence, the debts that are transferred to the association certainly it is the debts to the state and the debts to players and coaches.</p>
<div class=Source: www.kathimerini.com.cy

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