Twelve football clubs owe €9.5 million in social insurance debt

Economy economyfootballsportsTop News Twelve football clubs owe €9.5 million in social insurance debt Twelve Football Clubs Owe €9.5 Million In Social Insurance Debt Relevant News Twelve football clubs owe €9.5 million in social insurance debt 22 July 2026 Cabinet overrides Limassol on €95m mall despite backlash 22 July 2026 Cyprus on fire alert: The 5 biggest wildfires in the island’s history 22 July 2026 Eleftheria Paizanou 22 July 2026 FacebookXWhatsAppEmailPrintViber Twelve football clubs and companies competing or formerly competing in the Cyprus Football Association’s First Division owe the Social Insurance Fund a combined 9.5 million euros, according to data obtained by Phileleftheros. The figures cover 19 football clubs in total and run up to July 15. Eleven months ago, data submitted to the House of Representatives put the clubs’ debt to Social Insurance at 12 million euros. Settlement arrangements reached in recent months have since cut the outstanding amount by roughly 2.5 million euros. The five biggest debtors Five clubs and companies account for 9.32 million euros of the total 9.5 million euros owed. Their individual debts are as follows: Club A: 5.84 million euros Club B: 1.4 million euros Club C: 949,400 euros Club D: 783,500 euros Club E: 338,300 euros Social Insurance Services does not release the names of the clubs involved, citing data protection legislation, and Phileleftheros is not publishing them. Current and former officials in court Of the 19 football clubs and companies, only seven meet their Social Insurance obligations in full and owe nothing to the Fund. Five First Division clubs and companies have been taken to district courts over unpaid contributions. It is estimated that these include some of the clubs with the largest debts. Current and former administrative officials at leading clubs have appeared in court after criminal proceedings were brought against them. Under Social Insurance legislation, when contributions are not paid on time, Social Insurance Services registers criminal cases with the courts. Recovery warrants are issued once the cases are heard. Seven clubs seek settlement scheme The remaining seven clubs and companies are attempting to resolve their debts by joining the Social Insurance Contributions Settlement Scheme, which took effect on May 15. Applications can be submitted electronically until September 14. It is the third such scheme introduced to settle overdue contributions to the Fund, which are paid off through monthly instalments. Phileleftheros was told that only one club remains enrolled in an earlier settlement arrangement, having joined the second scheme, which was introduced during the coronavirus pandemic. A further club has applied to join the new scheme, and it is expected that other clubs owing money to Social Insurance will also apply. Under the scheme, debtors can repay what they owe over 54 equal monthly instalments. Those who repay early benefit from a reduction in the additional charge, of up to 27%. No court measures are taken against clubs, or other debtors, who join the new scheme. Registered criminal prosecutions against them are suspended, as are imprisonment or seizure warrants. Tax Department also monitoring clubs Football clubs are also under close scrutiny from the Tax Department over their compliance with a separate scheme to pay off tax debts in instalments. Under that scheme’s terms, any club that misses three instalments is automatically removed. The Tax Department also applies collection measures, including placing memos on clubs’ immovable property, freezing bank accounts and sealing business premises. Following last year’s revision of the scheme, 132 instalments remain before clubs’ tax debts are paid off in full. Source:Twelve Cyprus football clubs owe €9.5m in insurance debt Subscribe to our Newsletter Latest News Cabinet overrides Limassol on €95m mall despite backlash Cyprus on fire alert: The 5 biggest wildfires in the island’s history Cyprus weather: Temperatures to reach 43C on Wednesday Authorities issue orange warning for extreme heat as temperatures rise to 43C Four fire engines, two aircraft tackle Ergates wildfire (video) Overnight pharmacies on Tuesday, July 21 Man jailed eight years for raping woman, 63, in Paphos Follow en.philenews on Google News and be the first to know all the news about Cyprus and the world.