Every year APOEL's debt grows and this is not the appropriate response to its reduction
By Panikos Constantinos
I confess that it is touching the willingness of APOEL friends to contribute financially to an extraordinary period that their team is going through. And I have no doubt that in the end the required money will be raised.
The issue, however, is that the amount sought by the administration is sufficient for a few months. The problem is not solved and Takis Antoniou, who always appears serious and measured in his positions the day before yesterday on the station, told us the self-evident: Either an investor should come or APOEL should enter into a memorandum. He's right. There is no other way. Nor can the situation continue like this And I hope there is a person/company that wants to get involved with our football. It's not that easy. Last summer I also wrote about it in the case of AEL. Investors are not waiting for us around the corner. By chance some foreigners were found and mixed with the administrations of Paphos and Aris. It's not like they were looking for an investor, it just happened that the planets aligned.
APOEL has been following for some years now a tactic of “I have as many expenses and income as half of them”. He invests the solution to his problem in Europe's money. But the other day, Prodromos Petridis in an interview with RIK, talking to his colleague Giorgos Meletiou, had mentioned that in 2018 the debt was around 16-17 million euros, most of which he clarified were taxes to the State. In the 2017-18 season, APOEL competed in the groups of the Champions League with a very good presence and two draws with Dortmund in and out that I was lucky enough to describe.
From 2019 onwards every year it is added to the amount previously existed another 6-8 million. The Summer of 2024 will mark six years and we will wait until the end of August to find out if he earns a place in a European group.
The argument that a high budget should be maintained in the guise of the team's competitiveness is resounding. But not at all practical for debt reduction. Did Takis Antoniou finally provide the solution based on today's data, until an investor is found?
Certainly the deficit of 6-7 million euros every year to be added to the debt is not a solution. So much income, a small part of the income to be extinguished slowly, slowly the debt of tens of millions of euros maybe.
