Apoel unveil new stadium plans

In a move anticipated by many in the past days, Apoel on Friday unveiled plans for a new stadium during the team’s Christmas event, as revealed by the club’s chairman Prodromos Petrides.

Petrides announced a partnership with entrepreneur Constantinos Iordanous for the construction of a privately owned stadium in Kokkinotrimithia, with Iordanou set to invest 50 per cent in the project.

A statement released by the club confirmed that “after recent discussions with Cypriot entrepreneur Constantinos Iordanous, important agreements regarding the establishment of a new football stadium for Apoel in Kokkinotrimithia have finally been reached.”

Legal advisors from both Iordanous and Apoel have been instructed to initiate procedures for drafting agreements to be signed, with the entrepreneur expected to be the primary investor in this venture, albeit not the only one, according to reports circulating on Friday.

Efforts are underway to expedite all necessary processes, including the formulation of contracts and acquisition of essential permits, aiming for the timely construction and operation of the stadium.
The stipulated deadline for finalising all documents and contracts is set around the end of March or early April 2024.

According to reports, optimism prevails among all parties involved anticipating smooth proceedings, which will likely lead to a press conference in early 2024 for the comprehensive presentation of the project’s financial and technical aspects.

“The administrative board of Apoel FC would like to extend its gratitude to Constantinos Iordanous for his involvement and consideration in evaluating the proposal for a privately owned stadium,” the club statement said, acknowledging the entrepreneur’s “shared enthusiasm for the collective vision of establishing a home befitting Apoel’s stature.”

For years, Apoel and Omonia have hinted at the possibility of building a private stadium in Nicosia, but plans have been often hinted by lack of space in the capital or funding issues. The project announced on Friday represents a significant step towards the modernisation of Cypriot football.