Yiannis Spanoudakis, President and CEO of betting company OPAP, implied that the capital flow to Greek football would be limited the coming season, in the wake of the fixing-match scandal and the new financial conditions.
The agreement between OPAP and Greek topflight Superleague expired a few days ago, and both sides are about to sit on the negotiating table, however under different conditions this time. Activities and sponsorship agreements have been suspended, while outstanding payments have been frozen.
By the start of next tournament in late August, new agreements will clearly be under a new basis.
In 2010, OPAP paid €30m on advertising and €70m on sponsorships, compared to a total amount of €120m in 2009. It is very likely that the corresponding figures would be equally reduced in 2011, a year that OPAP has to negotiate important issues, such as the right of first refusal for the extension of monopoly and the entry in new markets.
However, during the season that ended last Jun, OPAP’s sponsorships to professional football clubs are estimated to exceed €40m, with €22m channeled to Superleague.
In any case, OPAP won’t proceed to the negotiating table on the grounds of losses suffered by the fixed matched scandal. This case affects both the privatization process of OPAP and the image of Greek football.
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