[Black Urum]

After about 24 years at the helms of Panathinaikos BC, the Giannakopoulos family have decided to call it a day and put the team up for sale.

During these 24 years the family has spent 350.000.000 euros on the team, winning 12 Greek A1 championships, 8 Greek Cups, 6 Euroleagues, 1 Intercontinental Championship and two Triple Crowns but most important of all not only putting Panathinaikos on the map of European basketball but turning them into one of its legends.

At the age of 82 Pavlos Giannakopoulos has repeatedly stated, after winning the 6th Euroleague title, that he wants to leave the team to get some rest and is looking for a buyer.

I am sure that the family won't just hand Panathinaikos BC out to anyone who knocks on their door but will carefully consider the future of Panathinaikos and the capabilities of the candidate buyers, but still people like the Giannakopoulos family come across very rarely and I don't think any new buyer will be able or willing to sustain a team with a 30.000.000 yearly budget and getting only about 10.000.000 per year in income.

At best with the new ownership Panathinaikos will become a "Maccabi" or similar level team, budget wise. Nevertheless the key to the future is keeping Zeljko Obradovic, who can do the same good job, even with less than 12-15.000.000 if he has to, as he had proven with Partizan and Joventut.

Another key element will be turning and investing more into youth academies and signing young promising, but ready to play, Greek players from A1 before their value goes up. I believe this process has already began and will continue steadily (Mantzaris almost done deal).

We must forget sustaining entire Euroleague clubs (like Partizan) purchasing players every year spending 800k-1m every summer and not seeing a healthy return of the investment.

I just hope that the family makes one final "present" to the team before leaving, especially if the NBA lock out occurs, by signing an NBA star this summer.

[stefans]

Too bad that they will sell club.I hope to see new owners with same strategy like these years.

[ZEUS]

Wow, I didn't know the old geezer was THAT old

I guess now it's Oly's time to dominate and start playing 'mad billionaire' by buying every most expensive player conceivable to make a mighty powerful team each year, both in Europe and Greece.

[Black Urum]

Panathinaikos assigned its sale to an American firm, GSP, which has been involved in ownership change of clubs like Phoenix Suns, Man Utd and NY Yankees.

[stefans]

Black Urum, on 14 June 2011 - 03:48 PM, said:

Panathinaikos assigned its sale to an American firm, GSP, which has been involved in ownership change of clubs like Phoenix Suns, Man Utd and NY Yankees.

Whether they invest in club?

[Black Urum]

stefans, on 14 June 2011 - 10:59 PM, said:

Whether they invest in club?

No, GSP has the job of finding someone to buy and invest in Panathinaikos BC. In exchange they7 will get 30% commission on the sale price.

As I predicted, things will get worse. Even if someone wants to buy and invest, they will not be willing to spend 25 million euros per year with an income of 7 millions.

[TeoTheGreek13]

There are three candidates for buying PAO BC until now. Two of them are Greeks. All of them have already make an offer for the club. That's all the information we have 'till now.

Stay tuned...!!!

This post has been edited by TeoTheGreek13: 12 February 2013 - 10:10 PM

[stefans]

TeoTheGreek13, on 27 June 2011 - 10:50 AM, said:

There are three candidates for buying PAO BC until now. Two of them are Greeks. All of them have already make an offer for the club. That's all the information we have 'till now.

Stay tuned...!!!

Can you post a link?

[Black Urum]

HERE is a link...

[Fivepack]

No matter who buys out PAO, their future is bright and stable. Innuendo and feign by people, doesn't hamper anything. They'll have their 7th star within 3 years. A bold prediction on my behalf!!

[TeoTheGreek13]

Fivepack, on 22 October 2011 - 10:59 PM, said:

No matter who buys out PAO, their future is bright and stable. Innuendo and feign by people, doesn't hamper anything. They'll have their 7th star within 3 years. A bold prediction on my behalf!!

The thing is, will anyone buy PAO?!
In order to buy a basketball team(even if that team is PAO) you have to love the sport and the club because thereis no profits. Insead, you lose a lot of money...

I'm optimistic though, that Giannakopoulos brothers will never leave the team without to find first the successor!

[Black Urum]

The Saudi prince who is rumoured to buy the FC team, has a plan for the BC team too...

Anyway, PAO has 7m income yearly and has now signed 3 yrs deal with OPAP (which is big deal in Greece) and is #1 in TV rights in Greece. So whatever happens, PAO will be there... maybe not as a protagonist, but in and around...

[TeoTheGreek13]

Black Urum, on 23 October 2011 - 10:46 PM, said:

The Saudi prince who is rumoured to buy the FC team, has a plan for the BC team too...

Anyway, PAO has 7m income yearly and has now signed 3 yrs deal with OPAP (which is big deal in Greece) and is #1 in TV rights in Greece. So whatever happens, PAO will be there... maybe not as a protagonist, but in and around...

I don't think that Panathinaikos fans(including me) would be satisfied with a supporting role...

I hope the prince, indeed has plans for basketball team... a good start would be Garnett's or Nowitzki's signing in January...!!!

[Black Urum]

Well, if we don't like a supporting role we can buy 18000 season tickets and jerseys and add another 6 millions to the budget

[stefans]

PAO if next season play in Adriatic League will be probably increase yearly income.And will have excellent games with Maccabi,Partizan,Olimpija,Cibona...

[Black Urum]

Russian billionaire interested in Panathinaikos BC

[TeoTheGreek13]

^^^Damn, I wish, at the end of the day, something good(for PAO) happens!

[ZEUS]

Black Urum, on 27 April 2012 - 10:05 AM, said:

Russian billionaire interested in Panathinaikos BC

If that does indeed happen, PAO will start looking like an English premiership football team

[Black Urum]

ZEUS, on 01 May 2012 - 11:16 PM, said:

If that does indeed happen, PAO will start looking like an English premiership football team

You mean civilised fans (at least inside the arena), huge TV rights contracts, professional marketing, merchandise sales and fans all over the world, private arena etc? If so, then YES PLEASE.

[stefans]

Black Urum, on 02 May 2012 - 09:09 AM, said:

You mean civilised fans (at least inside the arena), huge TV rights contracts, professional marketing, merchandise sales and fans all over the world, private arena etc? If so, then YES PLEASE.