Egyptian businessman Maged Samy on the verge of acquiring Greek club
Egyptian Businessman Maged Samy is set to become the owner of a Greek club over the next few hours pending the official announcement.
Renowned businessman Maged Samy is set to be the owner of his third club and second in Europe after acquiring Wadi Degla and Lierse S.K. over the past decade.
As announced by Greek second division outfits Ergotelis, the club had a meeting with Maged Samy & family on Thursday night to finalize negotiations regarding the takeover after they had issued a statement the night before about an upcoming meeting with a potential investor.
The statement then read that the outcome of the meeting was ‘fruitful’ and the final proposal to become the owner of the club will be submitted for the judgement of the General Assembly, which is the dominant decision-making body.
The opportunity became apparent to acquire he 87-year-old club after the president, Georgios Vrentzos, was deemed financially unable to lead the club, therefor the lookout for an investor had begun.
The Crete-based club were promoted to the second tier of Greek football, the Football League, after they won the third division [Gamma Ethniki] last season.
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