Saudi Prince Sultan bin Naser Al-Farhan Al-Saud is seeking to buy a majority stake in financially-troubled Greek Super League club Panathinaikos, a representative of the prince said here on Tuesday.
Vlassis Tsakas told Athens radio NovaSport FM that the prince will be coming to Greece next week to close the deal.
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Tsakas released a letter to the press Tuesday from the 26-year-old prince, owner of one of the biggest construction firms in Saudi Arabia, stating his interest in a 54.7 percent stake in Panathinaikos.
"I ask for the understanding of all people involved and especially of the millions of Panathinaikos fans for probable delays in this process caused by issues unrelated to our programme. We come with the best intentions for Panathinaikos and Greece in general," the prince was quoted in saying in the letter.
The proposal by the Saudi prince calls for an investment of 220 million euros in Panathinaikos, including a 150 million euros project for the construction of a new 48,000-seat stadium for the club to be completed by the prince's own company.