Pan Asia offers salvation to Panathinaikos but is it the best way forward?

Pan Asia Investments, headed by Thai businessman Paijoj Piempongsant, is keen on buying fallen giants Panathinaikos. The interest is there from both parties, with Piempongsant set to fly to Athens and discuss the major sticking points with Alafouzos. The debt and who it is paid by is said to be the major stumbling block.

The proposed takeover offers an enormous boost across the entire club, as the budget for next season would be 20 million Euro. This would significantly improve the squad if used properly. 13 million Euro would be used to pay third parties to whom money is owed to and cover a portion of the existing debts. On top of this, 7 million Euro would go towards a closed TV rights contract, and a further 7 million Euro would be spent on enhancing the facilities at the Koropi training centre.

This all sounds good and the group has past experience in European football, but the murky underworld of Greek football operates in a manner that would shock anyone. Would they be able to handle it? If the move was to go ahead, the first thing they must do is align themselves with people who know Greek football inside out and at the same time have a love for Panathinaikos. This is the major upside of Giannakopoulos and his offer, he would be able to guard the club against corruption and stand up to anyone that tries to walk over Panathinaikos. However, it is unclear how much he would be willing to pump into the club and the Pan Asia deal appears to be more advanced.

Regardless of what happens off the field, it is crucial any new owner keeps Ouzounidis as manager for next season and beyond. He has been the glue that has held the entire club together this season and deserves to be there more than anyone else when things get better. The players that have stayed behind also deserve massive respect, as it is very clear they are trying their hardest to put a smile on the fans' faces during the tough times. The 3-0 win against Panionios last weekend is evidence of what they can do. As the season nears to an end, hopefully we see a sellout crowd at Leoforos this weekend against PAOK.

By Nick Tsambouniaris 

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