APOEL club president Kyriakos Zivanaris addresses financial crisis at general assembly

During the general assembly held on March 4, 2026, at the Pavilion in Nicosia, APOEL club president Kyriakos Zivanaris addressed the club's severe financial crisis, which includes a total debt exceeding 40 million euros. Zivanaris announced that he and the current board will step down, with new elections scheduled for May. He clarified that the club's rejection of a proposal from Brazilian investors was due to the nature of the offer, which he described as a high-risk loan rather than a sustainable investment. Zivanaris emphasized that the proposal lacked necessary legal safeguards for long-term viability. Meanwhile, vice president Dimitris Pantelidis confirmed that a significant portion of the company’s immediate 3 million euro funding requirement has been secured through other means. The president accepted responsibility for his share of the financial decline while calling for a new governance model that avoids reliance on single-season results. The club aims to find a strategic partner to ensure the future stability of the institution.