Dimitris Giannakopoulos Talks Votanikos, Panathinaikos’ Future in Press Conference (Video)

first_imgATHENS – Panathinaikos AO President Dimitris Giannakopoulos Friday morning called reporters into a press conference at the OAKA Olympic Sports Complex in Athens. A clearly heated Giannakopoulos began the press conference addressing the recent departure of Panathinaikos BC coach Rick Pitino and the appointment of Argyris Pedoulakis as his successor. Giannakopoulos cited serious family issues as the reason that Pitino announced that he would not be returning to the reigning Greek domestic double winners, having, according to Giannakopoulos agreed on everything else.Following the brief discussion about the management of the basketball club, Mr. Giannakopoulos addressed the financial future of Panathinaikos and all its sporting departments, sounding a “Panathinaikos Alarm” to highlight the fact that without immediate financial partners to help him shoulder the burden of managing all the clubs departments, Panathinaikos will cease to exist.Mr. Giannakopoulos shed light on recent meetings that he had with the mayor-elect of Athens, Kostas Bakoyannis and New Democracy and Hellenic Parliament Opposition Leader, Kyriakos Mitsotakis, who is widely tipped in polls to be Greece’s next Prime Minister regarding the decade-old plan to construct a Panathinaikos sports complex in the industrial neighborhood of Votanikos in Athens. Panathinaikos AO’s President said that at a later date, after the July 7th Greek general elections, he would hold a joint press conference with mayor-elect Bakoyannis and together they would tell the public exactly how the Votanikos project will be financed and what to expect from it.Giannakopoulos in the past has wanted all the sporting departments of Panathinaikos AO to be housed at the rapidly deteriorating Olympic Sports Complex in Athens, pointing to the fact that the stadiums and facilities were already and place and just needed to be modernized in a “facelifting” plan. However, as Mr. Giannakopoulos claims, due to hidden interests by government officials, rivals and the Greek clumsy bureaucratic system, the plan was unable to become a reality despite securing the support of foreign investors on top of Giannakopoulos’ funding.During the course of his press conference, Mr. Giannakopoulos called on the owner of the football department of Panathinaikos, Yannis Alafouzos, to accept a €20 million offer to give up his majority shares of the club to Panathinaikos A.O. so that Mr. Giannakopoulos can assume the mantle of all the sporting departments of Panathinaikos. To that point, Giannakopoulos lamented the fact that for years he has fought by himself to save the basketball department and the various other departments without the support of other wealthy fans of Panathinaikos. Additionally, he pointed to the fact that numerous times over the years, Alafouzos himself has said that he no longer desires to be involved with Panathinaikos and is actively looking for a way outGiannakopoulos stated that if by July 1, 2020 there is still no meaningful financial support from wealthy fans of the club and regular fans of the club alike so as to raise another € 20 million  to get “Panathinaikos’ engine going” not just temporarily, but permanently, he said he will leave the club the day after that deadline. He hopes that when he gets the necessary, legally binding guarantees from the Greek state following the July 7th Greek general elections that other major players such as Giannis Vardinogiannis will emerge as partners in a renewed Panathinikos revival.TweetPinShare3131 Shareslast_img read more

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Smaash looks to raise USD 30 mn to fund expansion

first_imgNew Delhi, Aug 26 (PTI) Sachin Tendulkar-backed sports-based entertainment firm Smaaash is in talks to raise USD 30 million (over Rs 200 crore) to fund its expansion plans in India. It plans to invest Rs 250 crore over the next two years, including its investment into a digital platform for online gaming, for expansion of its footprint across the country, a top company official said. “We are about to close a round of funding. We are looking at raising USD 30 million. We will use this sum to fund our expansion plans,” Smaaash Chairman Shripal Morakhia told PTI. The company so far has raised Rs 150 crore from high networth individual investors and private equity firm Fidelis World. Smaaash plans to open close to 90 centres to have a network of 120 outlets across India by the financial year 2020. It is also looking at expanding in overseas markets, including West Asia and the US this year through franchise agreements, Morakhia said. “Smaaash over the past five years has driven the gaming market in India to exponential level and is now aiming to take this forward outside India. We are looking to fill the much- needed gap for experiential entertainment with initial focus on Saudi Arabia, Dubai and the US,” he said. In the US, the first Smaaash centre was opened at Mall of America Minneapolis in 2017. The company plans to open 24 new centres in India this year. Smaaash owns and operates sports-centric digital entertainment centres for games including cricket, football, go-karting and bowling. The company is also looking at manifold jump in its turnover to Rs 600 crore by fiscal year 2020 from 150 crore reported in the previous financial year.advertisement Last month, Smaaash also acquired bowling joint venture bluO entertainment from PVR Ltd, Indias biggest movie exhibitor, and Major Cineplex Group, for Rs 86 crore in an all-cash deal. At present, there are 36 Smaaash centres in India in cities such as Mumbai, Delhi, Pune, Hyderabad, Bengaluru, Ludhiana, Amritsar, Bhopal, Mangalore, Madurai, Gwalior and Mysore. PTI SVK MRlast_img read more

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