PAOK President Resigns to Pacify Furious Fans - 2012 Euro Football Latest News

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(Free-Press-Release.com) January 27, 2012 -- PAOK Salonika president Theodoros Zagorakis resigned, as fans were protesting against the sale of best player to maintain the indebted books of the team. Theodoros has been the former Greece captaon and lifted the prestigious Euro 2004 trophy.

After an unexpected 2-1 home loss by Atromitos Athens, PAOK fans created huge chaos by breaking up seats in the stand.

Zagorakis stated, “I step down at a difficult time so that love and unity return to the club.” Earlier this month, Portuguese midfielder Vieirinha has been sold to German club Vfl Wolfsburg by PAOK. In Greece, selling off assets to service debts is hugely popular.

The cash strapped government of country has been quite reluctant of privatizing state companies, as it might suffer severe backlash. Recently, PAOK has been fined by UEFA with threat of banning them from European competition, as it has been breaching licensing regulations.

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