APOEL football club faces financial crisis and leadership changes

During an extraordinary general assembly held on March 4, 2026, APOEL officials revealed that the club's total debt has reached 43.8 million euros. President of the football company Haris Fotiou stated that 6.1 million euros were required to finish the current season, a figure reduced to approximately 4 million euros following the sale of player Marius Corbu to Ferencvaros. Kyriakos Zivanaris, president of the APOEL association, announced that his board of directors will resign at the end of the season, with elections scheduled for May. Officials clarified that a proposed deal with Brazilian investors was rejected because it functioned as a loan rather than a sustainable long-term investment. Spokesman Nektarios Petevinos confirmed that plans to create a new company to erase debts were deemed unviable. The club is currently forming a committee to attract new investment and develop a five-year financial recovery plan. Despite the difficulties, officials emphasized the need for unity to ensure the club's survival and success in the cup semifinals.