By Johnny Askounis/ info@eurohoops.net
Following up on a recent announcement about an investment fund interested in acquiring the majority stake of Aris Midea, the Greek club announced the decision to accept the offer.
The deal, pending approval from the amateur division of the club, was announced on Friday.
“Aris Midea announces that it has received a binding proposal from the investment fund with which it has been in constant contact for the last month, for the transfer of the majority stake in the company.
The board of directors of the public company Aris Midea informs that it accepts and approves the proposal and refers it for approval to the board of directors of the amateur division of Aris, which is the shareholder of the public company. The meeting of the board of directors of Aris will be held on Friday, June 27, with the sole subject of the proposal for the sale of Aris shares to the aforementioned investment organization.
Subsequently, at the beginning of next week, a general meeting of the members of the amateur division of Aris will take place at Nick Galis Hall, to complete the process by which the amateur division had acquired the shares of Aris in 2020.”
RHC Group is the investment fund extending business ventures to the BKT EuroCup outfit. Founder and leader Richard Hsiao is also a close friend of Giannis Antetokounmpo and the family of the Greek NBA superstar.
Following the initial approval of the sale, the Freak shared an Instagram story with a picture of himself with his brother Thanasis and Hsiao, accompanied by likes in yellow and black, the official colors of Aris.
Furthermore, former player and current general manager of the senior national team of Greece, Nikos Zisis, is expected to be named general manager under the new ownership.
In the 2025-26 season, Aris will combine the next continental campaign in EuroCup with domestic competitions in Greece.