The famous Greek sports club has been denied public funding for a significant renovation of its dated stadium. According to GreekReporter.com the club is in a difficult situation in terms of future stadium.
On Monday, Greece’s Court of Audit stopped a grant approved by the Attica region authority, under former regional Governor Giannis Sgouros, finding the 7-million-euro grant for refurbishing the Panathinaikos FC stadium on Alexandras Avenue in downtown Athens to be illegal.
After examining the agreement, the Greek court found it was contrary to the public interest and also violated the principle of cost-efficiency, given that the new Panathinaikos stadium in the Votanikos district is due to be built within five years.
Panathinaikos claims ownership of the stadium and accuses the city and Athens mayor of applying pressure to the club to let go of the stadium for a new one, in an area several kilometers away, which the club is in no position to finance.
Newly elected Governor Rena Dourou has expressed some vague concerns about the plan, but now, after the court decision, will be called to offer a definitive solution to an issue concerning millions of Athenian fans.