OFFICIAL: Maged Samy announced owner of Greek club
Egyptian businessman Maged Samy has officially acquired a football club in Greece.
Renowned Egyptian Maged Samy is set to be the owner for 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 over the take over after they had issued a statement the night before about an upcoming meeting with a potential investor.
After a meeting between the General Assembly of the club, the decision was made to announce Maged Samy as owner.
The opportunity became apparent to acquire he 87-year-old club after the president, Georgios Vrentzos, was set to retire.
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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