APOEL club holds extraordinary general assembly to address significant financial debt

The APOEL sports club held an extraordinary general assembly to address a estimated financial debt of 43.8 million euros. President Kyriakos Zivanaris presented a 37-page, five-year financial recovery plan designed to stabilize the organization. The club requires 6.1 million euros by May 2026 to cover operational needs, with 2 million euros already secured from the transfer of Corbu to Ferencvaros. Management confirmed that the club is actively seeking investors and has shared its restructuring plan with several interested parties in Cyprus and abroad. The board emphasized the need for unity among the club, the commercial company, and supporters to ensure the team's continued participation in competitions. Furthermore, the club is managing debts through long-term repayment schedules and addressing bond-related obligations that involve future television revenue. New elections for the board are scheduled for May, though officials have not ruled out re-election bids.