The maintenance and upgrading of the GSP stadium’s facilities, the creation of new sources of income and the reorganisation of the athletics department are the three main priorities for its new general manager Giorgos Yiapanas.

He also told the Cyprus News Agency (CNA) that GSP’s financial viability is put in doubt by the possible departure of a large team from use of the stadium plus debts owed to it by other teams.

“What we seek is to take GSP one step further. To strengthen its sports identity, to diversify its sources of income, to modernise its facilities and to make it even more resilient in the long run, always operating transparently,” Yiapanas said.

He said the first pillar of his policy concerns “the maintenance and upgrading of the facilities, so that they remain safe, functional and modern, meeting the needs of athletes and fans”.

At the same time, “emphasis will be placed on the reorganisation of the athletics department with the main axis being the academy and the development of new athletes”.

Commercial development

Finally, “commercial development and the creation of new sources of revenue, reducing dependence on football revenues and commercially exploiting our facilities to create a more stable and diversified economic model” is also a priority, he said.

He added that “what is required is a well-kept, modern and truly welcoming sports centre”.

The key point is the experience and service of the fans. “We want visitors to feel comfortable. For this reason, we are planning a complete reorganisation of food services, which will offer a better quality menu, faster service and a pleasant experience during the break, worthy of a modern European stadium,” he said.

Asked about the financial plan, he said “our goal is to gradually reduce the excessive dependence on the revenues of football teams”.

He said this involved a comprehensive commercial exploitation plan, which includes strategic sponsorships, the organisation of events beyond football, the upgrading of food services and the utilisation of other facilities to create new, independent sources of income.

“We are not looking for quick solutions, but stable and sustainable models that will guarantee the financial health of the association for decades to come,” he said.

Asked about the impact on the financial viability of GSP in the event of the departure of one of Nicosia’s two big teams, Yiapanas said it was “undoubtedly a great challenge”.

Football teams

“We have thoroughly studied the impact that such an eventuality could have on the financial figures and the operation of the association, and we know exactly what it means for our viability,” he said.

Asked about the debts teams owe to GSP and the way they are managed, Yiapanas said “the issue of debts is a reality that we deal with responsibly”.

“It is known that the amounts owed, especially from Apoel, significant. We understand the problems they have to manage and, for this reason, through constructive dialogue, we are looking for realistic and sustainable arrangements that take into account their capabilities,” he said.

The collection of the teams’ revenues from advertisements, boxes, canteens, etc. is managed by GSP and the amounts are credited against their obligations.