There are reports that Greek football club Panserraikos might be getting new investors from Germany. The team suffering from financial problems has been on the brink of administration and hope that the new investors will be able to inject fresh capital to save the club.
Discussions are still going on between the German group as well as the club management, and each party will want to complete the transaction soon enough so that the team can have sufficient time to prepare for the next season.
Panserraikos has constantly been hit with financial problems ever since the death of its chairman PetrosTheodoridis. They have suffered successive relegation and find themselves in the amateur 3rd Greek division. There has been attempt by the chairman son to sell the club to a Russian investor, Konstantin Vostrikov, but the deal has not been really successful. Poor day-to-day management and poor knowledge of Greek football by the Russian business tycoon has caused the club to decline.