Greek basketball club Panathinaikos' owner to sell team

ATHENS - Greek professional basketball club Panathinaikos was on sale, announced the team owner Dimitris Giannakopoulos on Tuesday.

Giannakopoulos was selling the team for 25 million euros ($29 million).

"My family has put into the team more than 450 million euros and we have brought top players and coaches. I'm tired of being the only person who gives money to the club," said he in a press conference.

Giannakopoulos became the team owner of Panathinaikos in 2012.

Basketball team Panathinaikos was built in 1919. The powerhouse has won as many as 38 Greek league titles, along with six EuroLeague championships.

"From today Panathinaikos are up for sale. If the team wants my opinions they will have them. The team must leave the EuroLeague and go to FIBA," added Giannakopoulos.