Cyprus Times

APOEL President Clarifies Brazilian Proposal: "Not an Investment"

Published March 4, 2026, 17:08
APOEL President Clarifies Brazilian Proposal: "Not an Investment"

The president of the APOEL association, Kyriakos Zivanaris, addressed the recent proposal from Brazilian investors during the General Assembly, emphasizing that it was not an investment but a loan. He stated that the administration communicated directly with the investors and that the proposal was rejected because its legal framework did not guarantee the long-term viability of APOEL. Mr. Zivanaris stressed that the rejection concerned the specific proposal and not the investors themselves, as the signing of the document could not be approved. The statement was made before approximately 300 people gathered in the meeting hall.