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New beginning for AEK provided by Stavros Adamidis and Morgan Stanley bank

08 February 2010 / 10:02:44  GRReporter
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AEK players can enjoy a new beginning, because the financial problems that have thrown them and their fans into despair will soon be only a bitter memory of the past. The good messenger is the "life-saving" deal that AEK signed with Morgan Stanley. Although the deal with the U.S. Bank is only for €3 million, it will be able to give AEK a break, while it will contribute to the successful new start of the team, which by the end of next week will have a new president - 36-year-old Greek lawyer Stavros Adamidis. €3 million will be allocated for debt repayment to AEK by the bank immediately (the amount is €6.2 million lower than what it would be if AEK continued to pay deposits every month). In addition to the team the future president will be responsible for the part of Petros Pappas (such was the understanding between the two if AEK signed a contract with Morgan Stanley). So Adamidis will own 40% of the company as much as is the share of Nikos Notyas. There are positive developments in respect of the financial hole – it is expected that by the end of the season share owners will deposit approximately €7 million, which will fill up that hole. Soon a decision is expected regarding the issue with the field and with the agenda for the new season. One of the hottest issues awaiting a decision is the coach... Will Dusan Bayevich remain on the coach bench or will he be replaced? Although AEK do not exclude any options, it is not unlikely for Bayevich to be coach of the yellow-black team only until the summer...

Tags: Morgan Stanley AEK Greece Soccer Football
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