APOEL president Haris Fotiou discusses failed Brazilian investment efforts

APOEL president Haris Fotiou admitted in an interview with Cablenet that the effort to secure Brazilian investors for the club was a failure. The initiative began during a period of financial instability, shortly after negotiations with a group of eight potential stakeholders in March and April. Fotiou acknowledged that the club made communication errors by announcing the search prematurely, before any concrete proposals were on the table. Although the individuals involved were real, no capital was secured after eight to nine months, leading to a loss of public trust. Fotiou noted that Fernando Almeida, while unsuccessful in securing investors, assisted the club in reaching settlements with players to avoid sanctions. Alessandro, another individual involved in the initiative, left the club on February 17, though the club still has outstanding financial obligations to his fund. Fotiou emphasized that while the process was flawed, some funds provided by the group were used to settle debts that could have otherwise led to penalties.