APOEL’s leading role in Cypriot football and its presence in Europe will depend on the financial management of its success in Champions League.
Chairman of the Football Club, Fivos Erotorkitou outnumbered the main parameters of the team’s impressive presence in Europe and stressed the need for rational financial management of the success so that any future downturn is temporary.
In his interview to StockWatch, Mr. Erotokritou for the first time talked about the philosophy that governs the next budgets of the club, which might surprise the friends and funs of APOEL.
“The financial crisis affecting the Cypriot football requires moderation and conservatism”, he said.
Despite the impressive inflow of €18 million from the Champions League – APOEL has become one of the most profitable organizations in Cyprus – Mr. Erotokritou sounded the alarm of good management.
“We must not be misled by the impressive revenues and liquidity of the team. The administration’s intention, with which I agree, is to cut budget by 10% - 15%”, he noted.
The man leading APOEL to consecutive successes is born and bred of a family of traders and importer – exporter of hunting weapons from Russia.
“APOEL’s model of operation has elements from my own business culture”, he added.
Although expectations for the team have increased after qualifying in the 16 of the Champions League, the club should not become a hostage of expectations and must show restraint.
“Nobody in football knows what will happen. Therefore, we must be prepared for the difficult days so as not to be exposed”, he said.
Mr. Erotokritou recalled the nightmarish days of huge deficit and debts when he took the helm of administration.
He explained why he took over such a big risk, when nobody prejudged that in 42 months the club would participate twice in the leading football organization. “The first successes ‘woke up’ all forgotten creditors, who remembered their debts”, he noted.
Today, four years later, the team of Nicosia has paid off its debts and has deposits of millions of euros.
“The team’s financials are completely different”, he added.
“APOEL has surpluses, makes investments, upgrades its football section, reorganizes the football company and promotes sports projects of millions of euros”, he stressed.
In his interview to StockWatch – the first of a sports agent in 13 years – Mr. Erotokritou referred to the new training center of the team to be constructed in Kokkinotrimithia, expected to cost €5 - €6 million.
The administration hopes that it will be one of the most modern training centres of Cyprus.
Mr. Erotokritou expressed his content and pride for heading APOEL.
“I feel great honour to share the admiration and respect with my colleagues and architects of success, such as the coach and the players”, he concluded.
Chairman of the Football Club, Fivos Erotorkitou outnumbered the main parameters of the team’s impressive presence in Europe and stressed the need for rational financial management of the success so that any future downturn is temporary.
In his interview to StockWatch, Mr. Erotokritou for the first time talked about the philosophy that governs the next budgets of the club, which might surprise the friends and funs of APOEL.
“The financial crisis affecting the Cypriot football requires moderation and conservatism”, he said.
Despite the impressive inflow of €18 million from the Champions League – APOEL has become one of the most profitable organizations in Cyprus – Mr. Erotokritou sounded the alarm of good management.
“We must not be misled by the impressive revenues and liquidity of the team. The administration’s intention, with which I agree, is to cut budget by 10% - 15%”, he noted.
The man leading APOEL to consecutive successes is born and bred of a family of traders and importer – exporter of hunting weapons from Russia.
“APOEL’s model of operation has elements from my own business culture”, he added.
Although expectations for the team have increased after qualifying in the 16 of the Champions League, the club should not become a hostage of expectations and must show restraint.
“Nobody in football knows what will happen. Therefore, we must be prepared for the difficult days so as not to be exposed”, he said.
Mr. Erotokritou recalled the nightmarish days of huge deficit and debts when he took the helm of administration.
He explained why he took over such a big risk, when nobody prejudged that in 42 months the club would participate twice in the leading football organization. “The first successes ‘woke up’ all forgotten creditors, who remembered their debts”, he noted.
Today, four years later, the team of Nicosia has paid off its debts and has deposits of millions of euros.
“The team’s financials are completely different”, he added.
“APOEL has surpluses, makes investments, upgrades its football section, reorganizes the football company and promotes sports projects of millions of euros”, he stressed.
In his interview to StockWatch – the first of a sports agent in 13 years – Mr. Erotokritou referred to the new training center of the team to be constructed in Kokkinotrimithia, expected to cost €5 - €6 million.
The administration hopes that it will be one of the most modern training centres of Cyprus.
Mr. Erotokritou expressed his content and pride for heading APOEL.
“I feel great honour to share the admiration and respect with my colleagues and architects of success, such as the coach and the players”, he concluded.
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