Cypriot businessman Andreas Panteli is the new owner of Iraklis, the Thessaloniki club announced on Saturday.
The former president of Anorthosis Famagusta completed on Saturday the acquisition of the 75 percent stake from popular singer Antonis Remos and is the new strongman at the club following months of uncertainty.
Iraklis, who were relegated to the second division in June for forging a tax document, are still hoping to regain their Super League status through their appeal to the Court of Arbitration for Sport in Switzerland.
However, their financial troubles were such that they had to resort to the judicial authorities of Thessaloniki for the appointment of a new administration.
Now Panteli, who had also been involved for a brief period with Iraklis a couple of years ago, will begin the process of setting up a new administration as of Monday.
He has already agreed terms with coach Makis Katsavakis, who ended last season on the Olympiakos Volou bench.
Panteli had taken Anorthosis to the Champions League group stage, a first for a Cypriot club, but was later forced to resign his chair after being accused of embezzling some of the money from UEFA for playing in the continent’s top club competition.
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