Panathinaikos gain exclusive control of the OAKA Arena for the next 49 years / News - Basketnews.com

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As one of the most tumultuous weeks in recentPanathinaikos OPAP Athens's history draws to a close, the Greens' fans have finally a reason to smile.

2-pointers this season

54%19,4Points made:19,4Accuracy:53,7%Place in standings:11Record max:25Record min:11Most made 2FGs:Georgios PapagiannisTeamEuroLeagueStatisticsSchedule

In a historic development for the club, the Greece Ministry of Sports has granted PAO exclusive control of the OAKA arena for the upcoming 49 years.

SDNA.gr reports that the agreement between the sides has particularly favorable conditions for the Greek basketball powerhouse.

"This is one of the most important days in the history of the club and especially of the basketball department, as it is given the coveted solution to the chronic problem of housing the most successful professional team in the history of Greek sports.

Now, Panathinaikos acquires the keys to its own house, the stadium on which Golden Pages have been written for the club. The concession of OAKA to Panathinaikos was our primary concern, as the arena is the basic foundation for the development, sustainability and function of any club. The 'Mecca' of European basketball is now green," Panathinaikos state in the official announcement of the deal.

It is noted that although not currently actively involved in the management of the club, the owner of the club Dimitris Giannakopoulos made it a personal matter for him to achieve the completion of the deal. According to reports, Giannakopoulos was the main guy behind the deal.

In fact, Giannakopoulos took to Instagram to make the following statement:

"No matter how much they ridicule you, no matter how much they fight you with dirt and lies, it is actions that matter and make history.

After putting in 450 million euros, after winning six European trophies, after 27 years of titles, there comes the basic foundation for the future of a self-sufficient Panathinaikos club.

The time has come when Panathinaikos BC acquires its own stadium."

In his post, Giannakopoulos thanks his associates, Panagiotis Bomis and Margarita Thanou, "for working hard, so that today PAO's biggest dream can be realized."

He also extends his gratitude to the Greek Prime Minister, Kyriakos Mitsotakis, but also to the government's General Secretary, Grigoris Dimitriadis, "because without their political will, such a thing could have never taken place."

The OAKA Arena will remain accessible to the Greek Basketball Federation to serve its needs in matches and training of national teams and to host international events.

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