A look at AEK Athens' new owner Marios Iliopoulos

Jacque Talbot

• Updated: 10 Jun 2024 16:00 BST
• 3 min read

Greek shipowner Dimitris Melissanidis announced on Monday his resignation from AEK Athens, transferring control to fellow shipowner Marios Iliopoulos.

"Forgive me, but my journey has reached its end — I am handing over the reins to shipowner Mr. Marios Iliopoulos," Melissanidis stated in a message posted on the club’s website.

Melissanidis, the founder of Aegean Shipping, cited age and health reasons for his decision to step down,. “We started from nothing and brought AEK to its rightful place,” Melissanidis said.

While the transaction's price was not officially disclosed, a Greek sports website reported that the club was sold for €90 million ($96.7 million).

📸 The final press conference of Dimitris Melissanidis as owner of AEK FC.

He hands over the club to Marios Iliopoulos, who will have his first individual press conference in the coming days. pic.twitter.com/vGkcbLeHBA

— AEK Insider (@AEKINSIDER) June 10, 2024

In joint statements with Iliopoulos later that day, Melissanidis mentioned he had received offers from overseas investment funds but preferred not to leave the club in the hands of unknown parties.

The club's new owner, Iliopoulos was involved in a legal dispute after his giant oil tanker was attacked in July 2011 by bandits as it transited the Gulf of Aden.

The incident left a 'consortium of British and American insurers on the hook for almost $100 million in payouts to Iliopoulos', reports Bloomberg.

The insurers and Iliopoulos ended up locked in a bitter legal dispute, with each side accusing the other of breaking the law. British police had arrested Iliopoulos on suspicion of fraud but he denied wrongdoing and was never charged.