Cyprus Football Club Fights Bill To Take Stake In Betting Revenue
The Cyprus Football Association is fighting government plans to take the club's share of state betting revenues to pay off its debts.
As things stand, the CFA get 1.5% , about $700,000, from the state’s betting proceeds. Another 0.5% goes to other federations through the Cyprus Sports Organisation.
Cyprus’ Green party is proposing to change the arrangement, however, so 2% would be given to the Cyprus Sports Organisation, which is subject to state audits.
CFA chairman Giorgos Koumas met House President Demetris Syllouris on Tuesday to explain how this would affect the organisation, the Cyprus Mail reported. Koumas said the 1.5% was used to repay the club’s debts to the state in any case.
Green MP Giorgos Perdikis told the newspaper that the footballers’ association wanted the money transferred directly to the club to be used for players’ welfare and insurance, but Perdikis said that system had flaws.
The CFA had previously agreed with the state to repay the debts through instalments, half of it paid by the Cyprus Football Association club and the rest by the association.
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