European Commission’s Directorate-General for Competition (EC) ruled out that there is a state aid issue regarding the new football stadium in Limassol. This is because the construction cost of the stadium will be entirely borne by the state through the CSO. This development overturns the decisions taken at the Presidential House, particularly as regards the ownership of the stadium.
In particular, in order to comply with the Commission’s decision, the following changes should be made:
First, the owner of the stadium will be the CSO and not the three clubs of Limassol (Apollon, AEL and Aris) decided through a joint venture.
Secondly, the state land in Kolossi, which was leased by the CSO to the three clubs for the construction of the stadium, should be returned to the CSO by canceling the lease agreement. It is not acceptable that the state, through the CSO, build the stadium on its own land but it is leased to individuals.
Thirdly, the stadium will not be used exclusively by the three Limassol clubs nor should they be granted preferential treatment regarding the fees thy will pay for the use of the stadium.