Panathinaikos major shareholder Yiannis Vardinoyiannis is not considering the bid by a Saudi prince for his stake in the club until further notice, as the prince has failed to meet the Thursday deadline Vardinoyiannis had set for the submission of an authorisation to a Greek lawyer.
Prince Sultan bin Naser Al-Farhan Al-Saud is, according to the man claiming to represent him, Vlassis Tsakas (pictured), interested in investing 220 million euros in Panathinaikos through acquiring the 54.7 percent stake Vardinoyiannis has put up for sale since early September.
The law firm representing Vardinoyiannis said on Thursday evening they did not receive the authorisation required until 5 p.m., meaning that there is no issue anymore for the Panathinaikos main stakeholder as things stand.
The local media have universally expressed their doubts about how genuine the bid might be, following a statement the Prince is supposed to have issued according to Tsakas, confirming his intention to buy a controlling stake in the Greens.
Tsakas, who says he has now travelled to Saudi Arabia to meet with the 26-year-old Prince, argued on Thursday that the documents Vardinoyiannis requires cannot arrive in Greece before Monday owing to a religious holiday in Saudi Arabia.
Asked when the Prince would come to Greece, Tsakas answered: “The Prince is not a suitcase. He will arrive in all his glory. I believe everything will come to a happy ending.
Tsakas has appointed Piraeus lawyer Panos Petropoulos to represent the Prince, but only through an oral authorisation.
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