OAKA arena donated to Panathinaikos BC for the next 49 years / News - Basketnews.com

Credit: BasketNews.lt/D.Lukšta Credit BasketNews.lt/D.Lukšta

The Greek government and Panathinaikos BC have reportedly reached an agreement for the exclusive use of the OAKA Indoor Hall by the "Greens".

3-pointers this season

38%9,1Points made:9,1Accuracy:38,1%Place in standings:9Record max:13Record min:6Most made 3FGs:Derrick WilliamsTeamEuroLeagueStatisticsSchedule

The arena, along with its auxiliary facilities, will be granted for the next 49 years to Panathinaikos, with the club bearing its maintenance and operating costs. In addition, 30% of the net income from commercial usage will be returned to the Greek state. At the same time, the club is committed to making investments in the stadium, which will amount to three million euros in the next few years.

The agreement, which is expected to be implemented in the upcoming weeks, puts an end to the housing problem of the six-time EuroLeague champions. Up until now, Panathinaikos were paying an annual rent to make use of the facility, which oscillated between€650,000 and€517,000 before the COVID pandemic, according to the most recent info.

Subscribe to BN+ and get access to exclusive content.