APOEL president addresses financial crisis and investor rumors

APOEL chairman Charis Fotiou provided a detailed update on the club's financial situation during a recent interview on Cablenet. He confirmed that the club's current total debt stands at 39 million euros, with an additional projected deficit of 14 to 15 million euros by May 2027. Fotiou addressed rumors regarding potential investment from the Savvidis and Marinakis families, explicitly denying any involvement. He disclosed that he had previously held exploratory discussions regarding Marios Iliopoulos, but those efforts did not lead to a formal agreement. Regarding the club's legal challenges, Fotiou revealed that APOEL is currently facing eight legal claims before FIFA, including two active embargos, while working to resolve six other pending cases. He noted that the current season's budget was reduced by approximately 23 percent to manage costs. Finally, the club is undergoing a restructuring process, which includes the departure of coach Pablo Garcia and various personnel changes.