Russian businessman buys controlling stake in Greece soccer club
MOSCOW. Aug 13 (Interfax) - Rostov entrepreneur Ivan Savvidi has become the owner of a controlling stake in the Greek soccer club PAOK from the town of Saloniki.
This cost the owner of Agrokom Group around EUR 10 million.
Savvidi had in the past owned the club Rostov. Media reported on his desire to buy the Greek club back in 2006. But the negotiations were complex and then the global economic crisis struck. New reports on his intent surfaced this spring. In May, Savvidi announced his readiness to acquire the club, but to start was prepared to provide support to the team with a EUR 1.5 million credit.
"It is not easy for the team now, so I decided to help the club and maintain it for the fans," donnews.ru quotes him as saying.
Savvidi said the crisis afforded an excellent opportunity to buy a club with a name on the cheap, calling on Russian businessmen to follow his example.