AEL football club moves toward ownership transfer to investor Zisis Stylianou

President Achilles Davelis said the club has sent about 90 % of its financial, legal and tax documents to prospective buyer Zisis Stylianou and reiterated that the proposed handover of the majority shareholding will be free of cost. The deadline for completing the due‑diligence review was extended from 28 June to 30 June (later to 1 July in one report) to allow more time for verification.

Davelis emphasized that "we are not selling the shares, we are handing them over" and offered personal guarantees, stating, "If the obligations exceed what we agreed, I will cover them myself." However, another source reported that negotiations have stalled because Stylianou allegedly failed to provide the required proof of financial capacity, leading the club to terminate the confidentiality agreement and prepare for legal action.

The club warned that without a qualified investor the team could face relegation to the third division, while Davelis expressed optimism that the dialogue remains constructive and that a resolution is still possible.