A Saudi Arabian prince has expressed his interest in acquiring a major stake of Panathinaikos.
The interest, which has been reported in the Greek media, was confirmed last week by Panathinaikos president Dimitris Gontikas, who told reporters that Prince Sultan bin Naser Al-Farhan Al-Saud, owner of one of the biggest construction firms in Saudi Arabia, has made an offer to buy the controlling stake in the Greek football giant.
The proposal was made by the princes representative in Athens, Vlassis Tsakas, during a club board meeting. According to reports, the 26-year-old Saudi prince, who is scheduled to arrive in Athens next month- will offer an immediate 20 million euro share capital increase, followed by a further 50 million euro next summer, for the club’s operation and transfers. The prince is also prepared to offer 150 million euro for the construction of a new 48,000 seat stadium for the club. The work will be completed by his own construction company.