Five days after the deadline set by the Vardinoyiannis family, Prince Sultan al-Saud has finally sent the documents required to the Greek lawyer representing him so that negotiations can begin with a view to the 26-year-old Saudi acquiring a controlling stake in Panathinaikos.
Despite numerous ironic comments in the Greek media, mostly due to the personality of the Prince's fixer in Greece, Vlassis Tsakas, the Prince has come true to his promises and sent on Tuesday his authorisation to lawyer Panos Petropoulos, for talks to start with the Vardinoyiannis family, holders of a 54.7 percent stake in the Greens.
"Our decision has been taken and our offer to acquire the majority of shares of the Panathinaikos FC is in full force," a statement signed and stamped by the Prince read, as distributed to the Greek media.
The Prince has pledged, through Tsakas, to immediately pay the club 20 million euros and become its major shareholder, spend another 50 million euros next year to strengthen the team and invest 150 million euros to build a new football ground for the club.
As a result the process is now proceeding and the deal is likely to be concluded rapidly, according to Tsakas, who stated on Tuesday that the Prince will probably come to Athens by October 5.
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