A NEW ERA BEGINS AT ANORTHOSIS

New Anorthosis President Kyriakos Prastitis, gave his first press conference on Wednesday.

Supporters were briefed on financial issues and the team’s overall performance. In addition to the detailed statements and questions, the entire board was introduced. On the panel were Kyriakos Prastitis, Amir Tzema, and Tasos Anastasiadis.

Opening Remarks: “Before we begin, we extend our sincere condolences to the coach of our basketball team. As a board, we took over in early October, refraining from public statements as our priority is not personal promotion but the well-being of Anorthosis. We did not initially seek to lead this team; however, after the previous board resigned, we felt a need to step up. Without blaming any prior management, Anorthosis previously found itself in administrative instability and uncertainty. I will outline some of the actions we have taken since taking over. Our aim is to show that Anorthosis is here, resolute.”

On Initial Actions: “We spoke with Mr. Mario Lefkaritis to secure the main domain name ‘www.anorthosis.com,’ which was not previously under our control. We created a new online store, which launched today, elevating it to a more professional level. After each game, we auction off the scorer’s jersey. We’ve undertaken improvement works at ‘Antonis Karas’ and in the gym, and we’ve renovated the team store. When we entered the store, there were no official team jerseys.”

On Committees: “We established an audit committee, as required by our charter, that can intervene when it sees fit if it believes the board is deviating from its role. Another committee is responsible for investor evaluation—it is not in charge of finding investors but rather ensuring that any potential investor meets specific criteria. Recently, there were rumours of investors from Russia, Kazakhstan, and Germany being turned away. We clearly state that any investor wishing to make contact can reach out via an email handled solely by the committee, which includes no board members.”

On the Team’s Debts: “In the 2021-2022 season, we inherited a debt of €28,000. In the 2022-2023 season, this increased to €482,000, while for last season, the debt stands at €3,881,600. Of that amount, €619,000 is owed to players currently on the roster. There are numerous debts to three individuals, sports equipment suppliers, and service providers. We even owe agents, none of whom have been paid this year. These are just a few of the financial issues we face, and we need to complete the audit for a clearer picture. Anorthosis’ debt will not only not decrease but will likely increase. This year is operating at a deficit, which was known from the general assembly, but our mission is to find funds to minimize this debt.”

On the Audit and the Firm: “We have received messages, some crossing the line. We stepped forward to lead Anorthosis and state sincerely that we are willing to pay for any consequences of our actions. We spoke with numerous audit firms and settled on one that will audit the last ten years of our football division. For transparency purposes, I won’t reveal the firm’s name, which only the finance manager and I know. The audit costs around €100,000—a hefty amount for us to cover. Given our financial state, we ask the fans for support. Any Anorthosis supporter can contribute to help fund the audit, which will begin once we reach €10,000 and progress as we collect more funds. If we find any irregularities, we are prepared to take all necessary legal steps.”

On Team Performance: “We know that questions about the team’s performance will arise, but the problems we encountered are far larger, and we do not want to focus solely on gameplay. We fully understand the fans’ concerns. Anorthosis needs peace, understanding, and patience from its supporters. Decisions about the football side will be made in the best interest of Anorthosis, and we won’t take any action unless it will truly help. We inherited this situation from the previous administration, which is simply the reality. If we had a magic wand to turn back time, we would. Anorthosis did not falter in 1974 after it was displaced by the invaders, nor will it now. Anorthosis is an idea; it’s the people who fill the stadiums. To this world, we are launching the ‘Supporter 1911’ program.”

On Collaboration with Cablenet: “We are in discussions with Cablenet to renew our partnership. The previous board’s information on this was inaccurate.”

Closing Remarks from Prastitis: “We are not professional managers; we are people who love this team dearly and want to bring it to the place it deserves. Anorthosis is not me, nor the players, nor the basketball team. Anorthosis embodies everything we remember from the heroic struggles of 1955-59 and the brutal occupation of 1974. We have a duty to safeguard it like the apple of our eye and will not allow it to close. Friends, enemies, Anorthosis is here and is back. Respect it!”

On Giannis Okkas: “He has drawn significant attention lately. We openly express our support for him. Giannis Okkas was a coach that the fans wanted, and he has a second chance. The team has a favourable schedule, and it’s up to both Okkas and the players to prove they deserve to be here.”

On Internal Conflicts, Audit Committee, and Poullaidis: “I fully agree regarding the internal conflicts. The audit committee is mandated by the club’s constitution, and since the club became the majority shareholder, it was appropriate to form this committee to safeguard against future issues like today’s. This is a message to potential investors as we will not allow what happened with Mr. Poullaidis, who left us with a… bankrupt company. We recognize his significant contributions, but the figures tell the real story.”

On Prepaid Revenue: “Much of the revenue, including TV rights and ticket sales, was already used by the previous board. Until the audit is completed, I’ll refrain from saying more. This year is running a deficit, but next year’s budget will need to be lower than this year’s. The ‘Supporter 1911’ program, based on preliminary estimates, could bring in an additional €500,000 annually.”

On Anorthosis’ Total Debt: “The debt initially appears to exceed €12-13 million, but we cannot specify the exact amount. Daily, new individuals emerge claiming they are owed money. We are trying to gather all of it, and it is indeed substantial.”

On Cypriot Players with Expiring Contracts: “We will start contacting them immediately, and we’ve had some preliminary discussions. Our goal is to renew all of them.”

On Communication with Poullaidis: “I haven’t had any contact with him, but we extend an open invitation for him to contribute. At the very least, he could cover obligations to players and coaches from his term.”

On Monitoring the Club’s Financials: “The audit committee’s role is to monitor the club’s finances and ensure proper, fair operation. It consists of three members, all certified accountants. Almost every day, a committee member is present in the office. The board, especially the younger members, has taken on a challenging situation, and I commend them. Anorthosis has overcome worse, including invasion and the destruction of its premises. I wish the board the best.”