APOEL FC moves to reduce debt through debt-to-equity conversion

APOEL FC is implementing a financial restructuring strategy aimed at reducing its overall debt by approximately 4 million euros. Former president Prodromos Petridis, along with key associates Nikos Kougialis and Alexis Andreou, have agreed to convert outstanding debts owed to them by the club into equity. This initiative follows a previous similar move by the current president, Charis Fotiou, and other board members. The club’s management confirmed that these actions are intended to stabilize the financial position and improve the company's capital base to attract potential investors. APOEL is currently in the early stages of evaluating three potential investor candidates, with further developments expected by this summer. A shareholder assembly is scheduled for May to discuss these ongoing administrative and economic adjustments. Additionally, club spokesperson Nektarios Petevinos addressed recent team performances and injury concerns, noting that the board is focused on organizational stability during this critical period.