According to the Associated Press, third most successful Greece soccer club AEK Athens is going to bankrupt and planning to launch a liquidation and voluntary relegation to the third division of Greek football league. AEK Athens reportedly owes 170 million euros ($290 million) in taxes.
AEK Athens board members announced this news after an emergency shareholders meeting Tuesday. AEK Athens was relegated from the top league this season, but announced in the meeting that they would not play in the second division.
AEK Athens fans should take a part of blame for the club’s financial failure as poor crowd attendance and tight credit are the main reasons for their downfall.
AEK Athens, earlier made some headlines few months back when their midfielder Giorgos Katidis was banned from national team for doing a Nazi salute after scoring a goal in a league game.
From now SoccerSouls will feature regular Greek Soccer Club updates throughout the year.