KAE Aris: “Debts have decreased, the budget is increasing – BCL or Eurocup target – What will happen to Kastritis”

Its debts have been reduced by almost half KAE Aris, as announced at the administration’s press conference on Thursday. As it became known, the budget for the new season will increase, while the team’s intention is to claim a place in the BCL or the Eurocup. At the same time, the management’s intention is to renew the collaboration with Yiannis Kastritis, even though he is open to the next step. On the… unpleasant side of the account, the search for investors to continue and the share capital increase failed, since not even 1/5 of the requested amount was covered.

In detail, what the vice president of KAE Aris, Lefteris Arvanitis, and the member of the Board of Directors, Achilleas Rousiamanis, said:

– Lefteris Arvanitis: “It is a debriefing press conference to speak clearly to the world, as we always do. We are here because there was no major shareholder. ARIS is of course an idea and ideas have no owners. In 2020, the General Assembly of the AS decided to continue the effort and not to disband the group, so that it would be financially sound. That was our first goal, as well as participating in the championship with claims. We have been able to do that for the last two years and it shows in the response of the people.

For the competition, this year leaves a bitter end. The team proved on the field that they deserved to be higher. For me even in the top 4. Unfortunately, in four games, as I have said many times, the team was grossly wronged by the referee. We have addressed this issue. In the new year we will face it on a better basis and we will be better. We are pleased with the work of the coaching team. They fought with passion, strength. They didn’t give up and fought all games. This is the identity of ARIS. I think the year was good but it is unfair that we are where we are.

In the financial part, we fight with debts every day, making their reduction a primary goal. We have reached a pretty good point, if you think about it that in the last two years we have been doing well and racing with low budgets. Our logic was to increase revenue and reduce expenses. Although the low budget is a big risk for ARIS and ourselves, we are interested in the good of the team and not what we will hear.

We initially received in 2020 a debt of approximately 5.6 million euros. At this moment in KAE ARIS, the debts have decreased a lot. Debt to the State is 2 million, of which 200 thousand to the IKA and 1.8 to the tax office. The solution to the problem for the 1.8 is the 120 doses that the government recently passed and we are struggling to get into regulation. If we enter, because he wants an interpretation, we go to 15 thousand euros a month, while now we give 50 thousand. You understand the difference and the breath the team will take.

We have 350 thousand euros of settled debts towards the stadium. This is also an amount… There is another amount of 350 thousand euros, which I do not classify as debts. They are old debts, the TV rights of the next season have been assigned. It is money that our creditors will definitely get. And we have another 150 thousand left that we will try to settle. The total of all these is 2.9 million euros, together with the assigned ones. If we subtract the 350, it is about 2.5 million euros. This is the total of the debts of KAE ARIS, including this season with everything that comes out of the tax office. The reduction is very large even in times of coronavirus.

We are in this phase. When the championships are over, the work of the administration begins, the primary goal is the licensing and to file the file by May 20. Information should be arranged with the tax office and EFKA. At the same time, we are discussing the organization of the racing department

Many times we heard many conversations that do not correspond to the truth and do not help the administration. We would never want to be in that chair because of the circumstances. It is an administration that is under the supervision of the Prime Minister and under resignation if there is someone who wants to come forward. From there on, let’s see how to proceed, if some appear and do not hide behind an unfortunate result of the racing section”.

Achilleas Rousiamanis:For the competition, the team is already preparing for next year. We are talking to FIBA ​​about the groups. We have had the first discussions with the coach and some players.

For the assignments of the new period, they have to do with Vladi Dagisevic, Tadija and other creditors waiting in line. We will immediately finish the subject of Mr. Priftis. With the two foreigners I mentioned, the team will not be in danger of a ban from now on.

In order for some to understand how hard we are trying, I want to refer to AMK. For the last year I have not given a specific answer to protect the team. Although the stadium was full, AMK was a failure. About 85 thousand entered and 60 of them came from people who support KAE anyway. We didn’t want it to appear that there was weakness or lack of support, so we didn’t take those figures out.

Everyone understands the effort that has been made, where the money they have invested is going. We leave if anyone shows up. Our role is to help clean up ARIS. By next year, I believe we will pay off the debts to third parties, so that the team becomes competitive, does not have old sins and becomes accessible to investors who want to invest in ARIS basketball.”

The questions

-For the people, the support and the possibility of increasing the budget:

AR: “It makes sense… And our goal is to make the team more competitive in the coming years. There are already plans to increase the budget, especially playing in Europe. But it will grow so much that the use is not burdened and we do not create debts as in previous years. If a big sponsor comes and supports more, all the money will go to the budget.

L.A.: “In previous years, the goal was to clean up the team. Last year and this year we barely finished 7th or 8th. This leads us to consider raising the budget to be more competitive. In professional sports, if you skimp a little then you might pay for it. We have consolidated it”.

For Yiannis Kastritis:

AR: “We have talked 3-4 times about the new year. We are aiming for a contract longer than one year. We will also talk to his manager. The coach wants the step above, both sides are happy together”.

For licensing:

LA: As soon as possible. We have to do it by May 15, in order to have 15 days margin if something negative happens. There are many companies in Greece that seem unable to enter, but we have a very good accounting office like that of Mr. Roussos”.

On the rumors of in-season investor contacts:

AR: “The truth is that some foreign investors were interested in KAE ARIS. We talked with them, they came to Thessaloniki. We analyzed our plans each side. We explained to them that the important thing is not just to give the OEM but to be sure that it will continue to exist and not to pull the same ones again. I am not happy with their proposal since they are not assuming any old debt. We are in negotiations but I am not optimistic.

It is Americans who were interested. They have nothing to do with PAE. It is completely unrelated to the other topic… But there is nothing. The proposal that was made was small, they logically want to take the team without money or with a small amount. They could even post a bond or commit to paying them. Anyone can claim a majority of the shares.

Our primary issue was for them to submit a repayment plan for player liabilities etc. They committed to put in 150 thousand euros for this year, but taking over 51% of the shares. We would expect them to take over the repayment of the IKA or Dragisevic, for example. They wanted to finance the budget and manage the revenue. That is, they left the debts on the backs of others. If there is no definitive agreement, we will make public the proposal we have in hand”.

On the revenue and stadium issue:

LA. “We had more income this year, that’s why the debt decreased significantly. Our goal is to do the same next year. As far as the field is concerned, it is stagnant. Elections are coming up. I have said many times that this part needs attention. The running costs of the Palace have increased greatly. I also know it from Charilaou. PPC, gas etc… We must be sure that we will be able to respond as AS and KAE, so that we don’t have problems operating the stadium. Because energy costs are high, we will wait.

We are careful about the share transfer part, because we have it… suffer. They did not seem to have the power to pay the 2.6 million euros that are the team’s debts. They could present us with a letter of guarantee of at least 1 million. A guarantee that would secure us. We continue the talks and we will see where we will end up”.

Regarding the Americans’ proposal and what they expect the situation to change:

AR: “It’s not that simple. ARIS has some debt. A third person comes who you don’t know if he has the money and tells you to take the team to…run it. We cannot give the team to someone who does not show his strength. We may not be satisfied but we will tell him the plan, the way we can help him and we will guarantee. It’s a negotiation. We will see how seriously they think about their involvement in ARIS”.

For the participation of ARIS in Europe and possible plan b if the team does not enter the BCL groups:

L.A.: “We have talked a lot with BCL. We also spoke with the Eurocup. The second ones sent us the participation application and everything needed to answer them. In the case of BCL, things are more complicated. This is why this year leaves us bitter, since it creates an issue in planning. If we were in 5th place we would have secured the groups. It depends on what the teams above us will do. The conversation with FIBA ​​continues. We are in contact and it will be seen what will happen until the end of May. If there is no Europe, we will play in Greece but our goal is to play in some competition”.

On the decision to hold the press conference with the season finale:

L.A.: “We work many hours every day around the team. We had promised it would be done and we did it immediately because there are many issues going on in terms of sponsorships etc. We wanted to inform the world, because from now on we will be focused on licensing, coach and Europe”.

AR: “When we took over with AS, we had 8 bans that we didn’t know if they would be resolved. We are in a better place, there are of course problems but we are not like two years ago”

For AMK, if there is a goal for a new campaign and why the management believes that the famous friends of the team did not help:

AR: “It is a complicated issue. The reason is not one. Some people have been investing traditionally for the last 20-30 years and are tired. Many entrepreneurs have faced problems due to the coronavirus. There is perhaps our own responsibility that we did not convince some. Most of them are Martians who I wanted to see the progress of the team and where the money goes. We are discussing a new approach to this part of the world, to overcome the problems it has”.