Peter Theo to inject millions into Cyprus AEL F.C.

— 12 new players to be signed on, budget seen at CYP 15-20 mln

 

Peter Theo Vasiliou, the Cypriot-born entrepreneur who made his money in property in the UK, wants to inject millions of pounds and boost the fortunes of AEL football club in Limassol, which in recent years has been struggling and has not won a title since 1989.

Peter Theo told the Financial Mirror in an interview in Limassol that the time has come to bring the UK’s professional football standards to Cyprus. Having played for Milwall and then missing play for Arsenal due to a knee injury, Peter Theo turned to professional coaching and is a UEFA ‘A’ coach with management expertise.

After relocating to Cyprus in last April, he was approached by AEL supporters looking for sponsors to fund the football academy, which then led to extensive discussions leading to plans for a thorough restructuring of the Limassol football club, if the current committee backs the motion.

The Financial Mirror understands that the AEL club members will be meeting in mid-June to decide whether to agree to Peter Theo’s demands and separate the football activities from those of the club through the formation of a limited liability company, similar to the one formed at APOEL and other clubs.

 

— Major overhaul

 

Peter Theo, who is currently the Director of Football at AEL, is responsible for the manager, the players and the academy. The soft-spoken director of AEL wants to introduce UK-style management and discipline on his manager and players with the right to hire and fire at will.

“Until now, everything at AEL was based on the old system. With me, they have to stick to discipline, new rules and concrete direction as to where this historic club is heading, so that we can place the foundations to have a sustainable operation for the next 50 years.”

According to Peter Theo, AEL will soon become the only local football club with its own full-time academy of 18 players aged 16-19 being trained and prepared to become future professional players, who in turn may be fed to the first division club.

“We need to solve the issue of army conscription when the players turn 18, but I’m sure a solution may be found,” he said.

Recruitment for the academy coaches and professional staff has started with the academy to be located at the Elias Country Club outside Limassol, with Peter Theo undertaking all the costs associated with new playing fields, a swimming pool and gymnasium.

He has already secured the cooperation of Peter Mathews, a British trained coach who will bring his extensive expertise from the Arsenal academy. During the week, the AEL football academy announced the signing up of three 17-year old hopefuls, two Brazilians and a Greek, plus two Cypriot players aged 15.

 

— 12 players

 

Peter Theo has earmarked a spending budget of CYP 15-20 mln (EUR 26-34 mln) over the next ten years, which in addition to massive spending at the academy will include the hiring of up to 12 new players for the first division club and the construction of a modern football ground for AEL.

“My budget for the new season is to sign up 12 new players, but if an exceptional player becomes available, I shall not hesitate to seize the opportunity,” he said.

Eli Guttman has signed up as new coach and on Monday, AEL presented another three new players, but Peter Theo cautions AEL supporters not to expect wonders for the new season.

“Our target is to improve on last year’s position and after the third year, be among the championship candidates.”

Other plans include merchandising and opening of a café to accommodate the needs of the AEL supporters, as well as the launch of a new club magazine to drum up more funds for the club.

 

— Absolute majority

 

For the grandiose plans to set into motion, AEL’s existing board needs to approve the separation of the football activities under a limited liability company through the issue of shares, with Peter Theo telling the Financial Mirror that he aims to acquire a 76% absolute majority stake in AEL F.C. Ltd.

“We should make a fresh start, with no debts or obligations, but at the same time, we shall also make sure to find a cure to the previous financial and other obligations of AEL,” he concluded.