An Athens prosecutor ordered the provisional seizure of 50% of Karaiskaki Stadium as it has been owned by Lavrentis Lavrentiadis currently in prison on fraud and embezzlement suspicion in the case of Proton Bank. According to Greke media, the seizure of half of Karaiskaki Stadium aims to secure the demands of Proton Bank shareholders who suffered losses from the bad loans worth 700 million euro the bank gave to companies affiliated to Lavrentiadis.
Karaiskaki Stadium is the stadium of Greek Olympiacos FC.
Lavrentis Lavrentiadis
How can one seize 50% of a stadium?
I was puzzled about how can this be done, so KTG asked around how can a stadium be seized by 50%. I was wondering whether half of the seats and half of the light posts should be removed and sold so the shareholders can be compensated for their losses.
Nick Malkoutzis, deputy editor in English edition of Kathimerini replied to my question:
“Everything on one side of the halfway line. It’s the only fair way to do it.”
When I further dug asking whether it would be the left or the right side of the stadium to be seized, he twitted the brilliant solution:
Why doesn’t it surprise me one bit that it is Karaiskaki Lavrentiadis was involved with? What are the odds that Olympiakos is NOT winning the Greek championship in a given year? Guess only when others than their ‘friends’ are governing…