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Sunday, May. 20, 2012 |

Cash-strapped AEK braced for UEFA hearing

Page last updated at 14:41 GMT, Sunday, February 19, 2012 - 19:41 EST

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Yahoo! Sports:

The president of AEK Athens official supporters' club has dismissed claims that there are plans afoot to down-grade AEK to the fourth tier of Greek football to solve its financial problems as the club prepares for a UEFA disciplinary hearing.

Cash-strapped AEK, who have been seeking new investors for several months, were embarrassingly forced to have their Super League match against OFI Crete postponed twice this weekend as they were unable to secure tax clearance for the issuing of tickets.

The club faces a UEFA disciplinary hearing on Thursday over its troubled finances.

The desperate situation has prompted reports that the club is seeking to down-grade the team and purchase a new tax number in order to survive.

"As president of the Supporters' Club I can tell you that nothing of the sort has crossed anyone's mind, while as a member of the executive board I assure you that something like that has not been discussed - not even as a joke," Makis Kasnakidis told Greek radio station NovaSport FM.

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