PAOK's New Stadium Project: 'Nest of the Two-Headed Eagle' Begins

PAOK FC is moving forward with the construction of its new Toumba stadium by establishing a Special Purpose Vehicle (SPV) named 'Nest of the Two-Headed Eagle'.

As announced, the company was founded on January 16, according to schedule. The name was conceived by Ivan Savvidis, who wants to create a fervent home ground for the team.

The company's share capital amounts to €1,000,000, with Ivan Savvidis holding the position of chairman, Maria Gontsareva as vice president and managing director, and Kostas Fotiadis as a member of the Board of Directors.

The company's purpose is the construction and operation of the new stadium in Toumba, on the site of the existing PAOK stadium.