Photo: Sportime

In his press conference that took place today, the owner of Panathinaikos, Dimitris Giannakopoulos, announced that the club is out for sale looking for a new owner who will take care of all Panathinaikos business and run the club.

Panathinaikos Athens will be sold for 25 million euros, which is considered to be a low price for a club that has approximately 400 million euros worth.

Giannakopoulos also announced that he is temporarily giving up the management of Panathinaikos to Manos Papadopoulos and Takis Triantopoulos.

Among other things, Giannakopoulos said he would like to see the club competing in FIBA’s Basketball Champions League, an organization that “unlike the Euroleague, is following the NBA standards and focusing on basketball”.