The delegation submitted a complete memorandum of cooperation to the PAOK Sports Council for the construction of the New Toumba, and presented studies, topographies, master plans and other relevant documents.

The proposed memorandum of cooperation is also the result of consultations during the entire previous period, with representatives of the PAOK Sports Council.

The main points of the proposed memorandum of cooperation are the following:

1) Within 12 months of the signing of the memorandum of cooperation, the procedures for maturing studies, the necessary approvals and the final licensing of the project will have been completed. There is the possibility of an extension of 4 months, only in case of delay by any of the authorities involved.

2) Upon the end of the above period, including the final issuance of a building permit, construction work on the project will begin immediately, with an estimated time frame of 3 years.

3) There is a clear provision for compensation in the event of a violation of the terms of the memorandum of understanding.

4) The New Toumba will belong to PAOK FC, and the club will draw up a contract with a special purpose company, which will be established upon the recommendation of PAOK FC and will have as its objective the construction and partial exploitation of the new stadium for 49 years.

5) PAOK FC will have the exclusive use of the premises, with an area of approximately 7,300 sq m. The premises can be used as offices, sports facilities, areas of health interest, etc.

6) All necessary financial guarantees for the construction of the New Toumba will be provided – as is self-evident – at the time of the precise documentation of the total costing of the project, before the start of construction works.

7). Drawing up a contract, which concerns the provision, in favor of PAOK FC, of relevant compensation from the start until the end of the works. Indicatively, covering relocation costs, ensuring operating expenses in the new facilities, a fixed annual amount, etc.

8) Participation in the competent committee for the implementation of the project, of the AS PAOK representative on the PAOK FC Board of Directors

9) Finding a stadium, which will meet all the required specifications during the period that will elapse until the delivery of the New Toumba.

10) The parties agree and undertake that until the end of the period from the signing of this, as mentioned above, this memorandum of cooperation is exclusive and binding for all parties.

According to the status of AS PAOK, we ask its board of directors to approve the memorandum of cooperation, and all together united, the members of the large PAOK family, to celebrate on the 100th anniversary of our club, the start of the construction works of the New Toumba.