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AEK Athens in bankruptcy danger
Greece - 25 October, 2004
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The Alpha Ethniki club which is carrying debts estimated to be in the region of €75m-€100m, had a second appeal to have the debt written off turned down in a court hearing this month. Club president Demis Nikolaidis has revealed the club is in danger of going bankrupt if the Greek government does not allow the club to write off a large part of its debt. "If the Greek public sector does not want AEK to use article 44 for companies then Greece will get no money from us and we go out of business," Nikolaidis commented to media.
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