Roger Hampel
Photo Credit: Pogon Szczecin
On December 27, 2024, Pogon Szczecin SA (Polish First Tier Club) issued an official statement regarding the suspension of negotiations with Alex Haditaghi over the acquisition of a controlling stake in the club. The communication provides transparency on the complexities of the talks and clarifies the financial standing of the club, addressing speculation surrounding its debt structure and negotiation terms.
Complex Negotiations Stalled by Stakeholder Disagreement
The negotiation process revolved around the acquisition of shares by Alex Haditaghi from EPA sp. z o.o., coupled with a new share issue. However, the deal required a multilayered agreement involving the club, EPA, and key creditors. While Pogon Szczecin and Haditaghi reached a consensus on the share transactions, the inability to align with all creditors ultimately halted progress.
Pogoń Szczecin emphasized its respect for creditors' rights, acknowledging their expectation for adherence to previously agreed repayment terms. The club also highlighted the importance of trust and cooperation in stabilizing its financial situation, suggesting that this trust has underpinned its financial strategy to date.
Transparency on Financial Obligations
In response to public discourse surrounding its financial health, Pogoń Szczecin disclosed its long-term debt obligations. As of the statement date, the club’s liabilities from long-term loans amounted to PLN 26.14 million. These figures will be formally detailed in the club’s upcoming financial report, underscoring its commitment to transparency.
The club clarified that its use of long-term loans is in line with common practices among other Ekstraklasa teams. All loans are secured with standard market instruments, and their interest rates align with prevailing market norms. A particularly contentious detail—regarding a PLN 2 million lien on Ekstraklasa SA revenues—was described as a security measure for a single loan, not a systemic issue.
The Broader Context of Football Club Financing
Pogoń Szczecin’s financial strategy reflects broader trends in professional football. Most clubs in the PKO Ekstraklasa leverage debt instruments to sustain operations and invest in growth. While this approach can lead to public scrutiny, it is an industry standard. The club's statement reassures stakeholders that its financial management is consistent with these norms.
The Path Forward for Pogon Szczecin
Pogoń Szczecin expressed gratitude to Alex Haditaghi for his involvement in the negotiation process and acknowledged the significance of his potential investment. The club reaffirmed its commitment to maintaining financial stability and fostering transparent communication with fans and partners.
While the breakdown of talks marks a setback in Pogoń Szczecin’s development plans, the club’s proactive approach to addressing speculation demonstrates a commitment to its long-term vision. The suspension of negotiations, while disappointing, is not uncommon in the dynamic world of football business.
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