Giannis Vardinogiannis

Who is Giannis Vardinogiannis?

Giannis Vardinogiannis is a Greek of Cretan descent, the first-born son of Vardis Vardinogiannis. He majored in economics at Vassar College in the United States. He is a former car rally champion who owns the private rally team Cyclon Rally Sport, with seven participations in the international Acropolis Rally; he was first Greek driver in Acropolis Rally for five years from 1988 to 1992. He won six times the Greek Rally title, driving Lancia Delta with co-driver Kostas Stefanis. Since his retirement from the sport, in 1993, he works in the family business, which has interests in oil, television broadcasting, publishing, shipping, etc. The Vardinoyannis family own the independent oil refinery Motor Oil Hellas, in whose Board of Directors Yannis Vardinoyannis also serves and shipping company Avin International S.A.

In the summer of 2000, president of Panathinaikos Giorgos Vardinogiannis resigned from his duties and sold his share to his nephew Giannis Vardinogiannis, who changed the style of management into the club. On 22 April 2008, main shareholder Giannis Vardinogiannis gave a press conference in which he announced the decision of his family to reduce their share in the club to 50% – after 30 years of full ownership – through a €80 million increase of the company's capital stock. After the negotiations and the share capital increase, the Vardinogiannis family would hold 56% of the club, Panathinaikos Athlitikos Omilos 10% and the rest shareholders 34%. In general, Giannis Vardinogiannis' time at the helm of Panathinaikos is regarded as a major failure as he sat back and allowed arch rivals Olympiakos dominate at every level of the game, on and off the field of play. He has only the following successes as an owner of Panathinaikos for 10 years: