On Tuesday, 24 June, APOEL Football Ltd. held its Annual General Assembly, with President Prodromos Petrides outlining a number of key developments regarding the club’s financial future, operational structure, and strategic direction. Brazilian Investment Deal Unveiled The most notable revelation was the proposed investment agreement with Brazilian firm F8 Sports, with Petrides confirming that a preliminary agreement has already been signed. As part of the deal, €305,000 has already been injected into the club, with an additional €2.8 million expected by the end of August. According to Petrides, the agreement would see the Brazilians contribute €2 million annually, with those funds directed towards debt repayment. In return, they would ensure that APOEL’s annual operating budget remains no less than €8–9 million. The more they contribute toward the club’s liabilities, the greater their equity stake will become, potentially leading to majority control in the coming years. The agreement is expected to span 15–20 years, although it is currently non-binding. A 60-day deadline has been set for the finalisation of terms. Should the agreement proceed, it will be subject to shareholder approval at a future General Assembly. If it does not materialise, the funds already provided – totalling €3.18 million – will be converted into shares. Stadium Project and Infrastructure Petrides also addressed the long-discussed stadium project, noting that there is firm commitment from the Iordanous family to move the development forward. Although no specific timeline was given, the statement signals renewed momentum for a long-term infrastructure plan. Sporting Director and Head Coach Announcements In terms of sporting operations, Petrides confirmed that the club has made a formal decision to appoint a Sporting Director – a position that many within the fanbase have long called for, given the club’s recent inconsistency in recruitment and squad planning. He also discussed the recent appointment of Pablo García as head coach, describing the Uruguayan as “ambitious” and fully aligned with the club’s current financial and sporting realities. García, he noted, has committed to promoting youth development and working within the agreed budget. Financial Contributions and Internal Friction Petrides took time to address his own contributions to the club, revealing that between December 2023 and December 2024, he and his board deposited €600,000 from their own funds, followed by an additional €820,000 since January 2025. However, not all discussions were smooth. Tensions rose when the issue of the club’s bond agreement with a particular financial institution was raised. Members of the former “Group of 8” — a collective involved in past governance — took the floor and voiced strong criticisms, leading to a heated exchange. Closing Remarks In a personal moment, Petrides addressed recent internal conflicts, expressing disappointment over perceived disrespect. “APOEL is not a person; it’s an idea, a passion,” he said, urging unity among stakeholders. He reiterated that leadership transitions should not be forced or rushed and invited any capable party to step forward with a serious plan. The General Assembly concluded at 20:03, following a two-and-a-half-hour session that may well define APOEL’s medium-term future both on and off the pitch. Post navigation A New Era at the CFA: Charis Loizides Takes the Helm