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First of all, it was important to the … green PAE wallet and budget. Last season (2019/20) Panathinaikos reaped about 5.2 million euros from the subscription channel. An amount that allowed him to proceed calmly with his financial rationalization, together with the money that was established in the PAE funds during the continuous increases in Social Capital.
Television is the number one fixed income for all Greek PAEs and in this case, Panathinaikos and its property, having initially chosen their own television channel, via Panathinaikos TV, it was clear that … they were playing. With the hope that through the sponsorship agreements obtained by Giannis Alafouzos, the corresponding amount can go out later this year and through the green channel.
The circumstances, however, proved that such a thing would be extremely difficult to do. On the one hand because the project requires (and) meeting of people (something that does not exist at the moment in Panathinaikos) and on the other hand because the image of the shamrock in the friendlies so far was not entirely satisfactory and did not attract fans to subscriptions to “Panathinaikos TV”.
Ultimately, the numbers simply did not come out and in the last turn of the negotiation (which, as reported by Sport24.gr, Alafouzos was the first to reopen), the clover chose the path of stability and a very important income, which it offers as minimum insurance for the whole year.
Without exaggeration, the agreement with NOVA, which under normal circumstances can exceed 7 million euros, ensures and covers, if not all, surely 90% of the budget that this year the Panathinaikos football department will have together with the Finance office .
The reduction of tax rates on contracts, after all, offered the greens the possibility to significantly increase the budget of this year’s list, which after the arrival of Vigiafanies, Aitor, Veleth, but also adjustments to the Makedora, Ha Metheogi, Path contracts exceed 7 million euros. And while there is still the arrival of Antonito (within Wednesday 23/9) and probably another player for the center of the field.
Commonly, with the football department budget “paid for” by NOVA’s new contract, it is probably the first time in years that Panathinaikos expect a significant return on the use of the 2020/21 season. This will further aid in the stable reduction of debt, even in a seven-digit figure (currently around 13 to 14 million euros), completing an incredibly difficult three-year cycle of financial consolidation of the green PAE, which cost it a lot, but very competitive …
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