Claiming Panathinaikos is now worth €500 million, owner Dimitris Giannakopoulos admitted he may transition to a fan role in five years. He defended Ergin Ataman’s tenure and argued that Olympiacos cannot be compared to his club, while noting a lack of will from his rivals to find peace.
Panathinaikos AKTOR Athens owner Dimitris Giannakopoulos opened up about his future with the club, last season and rivalry with Olympiacos Piraeus in an interview with Euro Insiders.
Giannakopoulos is one of the most controversial public persons in the EuroLeague ecosystem. He has received a number of suspensions and fines for his provoking acts during games and emotional messages on social media.
Despite the constant controversy, the Greek businessman continues to show love to his club and has helped Panathinaikos reach the top of European basketball in recent years.
Giannakopoulos talks last season results, support for Ataman
Giannakopoulos remained positive when asked if last season was a success or a failure and how he would define it.
“Actually I don’t think it’s a failure. I think it’s a success because we have the best stadium in Europe. Panathinaikos never had a stadium owned by the club. I think that all around the world, whoever has seen it, has been really astonished. I think it’s really a big success having families, having the whole of Greece calling and asking for for a ticket.”
However, regarding basketball results, he was less positive.
“Basketball wise, I expected something better. It was one of the reasons why we changed the gear this year. I think that this season was just unlucky. I don’t think that it was a learning season.”
Ergin Ataman, Dimitris Giannakopoulos
Credit Vangelis Stolis
The Panathinaikos owner then defended former head coach Ergin Ataman, who faced criticism during the season.
“Everybody was asking me ‘why are you supporting Ergin so much this season and why are you so pro-Ergin?’ Firstly, because he’s an amazing professional. He brought me the European title. And I believe that if he had the full support of everybody, maybe the results would have been different. I love him so much. We have the same beliefs, the same character.”
Dimitris Giannakopoulos hints at possible Panathinaikos exit, reveals massive club valuation
The Panathinaikos owner explained that taking control of the club was never part of his original plans, recalling how his father convinced him to continue the family’s involvement.
“I grew up in a house where the word Panathinaikos came up every ten minutes,” Giannakopoulos said.
“Business-wise, involvement-wise, I’ve said it in the past, I’m not going to go back on that. It wasn’t something that I wanted to be involved [in] back in 2012. I told you, I’ve even gone to Nigeria to try to find a buyer. I didn’t want that.
“My dad asked me and he said, ‘Look, please don’t do this to me. This is my legacy.’ I carried on, I did the best I could, I think I passed the level of what was expected.”
However, Giannakopoulos made it clear that he has never promised to remain in charge indefinitely.
“Now, to be honest, why am I keeping being involved? I never said that I’m going to be here forever. I have the responsibility for like three or four million [people], if they’re going to wake up in the morning with a smile or with not a smile. So I think about them a lot.”
According to him, Panathinaikos’ value has increased dramatically in recent years and could now be approaching half a billion euros.
“Basketball, going into the business side, is changing,” he said.
“Like valuation of Panathinaikos a few years ago was in the tens. Now it’s maybe half a billion.”
The growing value of the organization, he admitted, is one of the factors affecting his thinking about whether to remain involved.
“A bit of it is keeping me there. A bit of it is maybe changing my thoughts about my future involvement. So let’s say that I’m with one-and-a-half feet in, half a foot out. We’ll see.”
When asked where he sees himself several years from now, his answer was even more striking.
“You see where [the cat is] sitting? I’m going to put a television there and I’m going to be watching the games as a fan in five years and I’m going to be shouting, ‘You should get another center, you should get another point [guard], you should get another small forward.'”
Credit Tourette Photography /Alamy/Scanpix
The Panathinaikos owner dismisses Olympiacos rivalry, addresses possibility of peace
Giannakopoulos does not believe Panathinaikos and Olympiacos should be viewed on the same level in basketball.
“I cannot put in the same sentence Panathinaikos and Olympiacos, because we are two totally different clubs in dynamic, two totally different clubs in size, in ethics, in everything.”
According to Giannakopoulos, the rivalry comes mainly from football.
“This rivalry comes from football. There is no rivalry in basketball. Olympiacos fans, the last ten years, have learned that basketball is an orange ball and not a black-and-white one. You used to go to the stadium of Olympiacos ten years ago and you used to hear, ‘Offside, offside.'”
Still, Giannakopoulos stressed that he respects Olympiacos supporters.
“I respect Olympiacos fans a lot. I respect the fans of every club. But I cannot accept that Panathinaikos, Olympiacos in basketball can be in the same kind of conversation.”
Asked about the possibility of peace between the two sides, Giannakopoulos said he has tried before.
“I’ve said this thousands of times. I tried to humanize it. There is no will on the other side. There is no will. I’m ready to sit on the same table.”
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