Wednesday, 26 May 2010

The Shareholders of Apoel FC - LTV and KYKKOS are major shareholders

Since there is practically nothing going on in the premier league until after the world cup, I took the opportunity to see the list of the major shareholders of Apoel FC. This is certainly interesting as the club kitty is bursting with Champions League money, and thus it can be in a position to remunerate shareholders.

The list is here:

Some of the most noteworthy names is the fact that Kukkos monastery owns 1.67% of the company. It seems that our Church is not only tax free but it also loves its football!
More serious is the fact that LTV owns the majority share at 8.99%. This is not illegal, but it raises questions about the ability of football teams to bargain their TV contracts when the TV company is a member of the board and owns a substantial part of the company - there are huge conflict of interest considerations that have not been raised before.

If anyone knows if sky sports owns a part in premier league teams please let me know.

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