PAOK’s overhanging tax debt to the Greek state has been erased as the club’s owner Ivan Savvidis deposited 10.8 million euros to the Thessaloniki Tax Authority (FAE).
All relevant documents and the money were deposited this week, clearing the club of any tax burdens – the first Super League club to do so.
The club said in a statement that they are finally “free” and called the day “historic”.
“As of today, the nightmare of debts is in the past because the club’s major shareholder, Ivan Savvidis, has successfully repaid the debts.”
PAOK hopes the debt free record will help them get on track with regenerating the club and put more money where it’s needed.
