Greek football club PAOK have agreed to sell 23-year-old attacking midfielder Giannis Konstantelias to German Bundesliga team Borussia Dortmund for an initial fee of 26 million euros plus 6 million euros in potential add-ons.
The transfer represents the most expensive player sale in PAOK's history, surpassing the previous record set when striker Stefanos Tzimas joined English Premier League side Brighton for 22.5 million euros.
The agreement between PAOK and Borussia Dortmund, first reported by Gazzetta, raises total player sales revenue under club owner Ivan Savvidis to 166.99 million euros. Since Savvidis took charge of the club in the summer of 2012, PAOK have completed 22 player transactions valued at 2 million euros or more, including secondary resale percentage income collected from subsequent transfers.
PAOK FC, based in Thessaloniki, compete in the top tier of Greek football. Savvidis, a Greek-Russian businessman, acquired controlling interest in the club 14 years ago and has overseen a period of financial growth supported by player trading and academy development.
Academy Graduates Drive Transfer Revenues
A major element of PAOK's transfer strategy has been the production of homegrown talent through its youth academy. Seven of the 22 player sales worth at least 2 million euros involve academy graduates: Konstantelias, Tzimas, Konstantinos Koulierakis, Christos Tzolis, Efthymis Koulouris, Georgios Koutsias, and Dimitris Pelkas.
These seven homegrown players have generated a combined total of 85.91 million euros for the club. That figure excludes minor transfers and player sales below the 2 million euro threshold, making the true financial yield from the academy even higher.
Konstantelias leads the academy list following his record deal. Before his transfer, Tzimas secured 22.5 million euros for PAOK after German side Nuremberg exercised a purchase option and subsequently transferred him to Brighton. Defender Koulierakis moved to German club Wolfsburg for 11.75 million euros, while winger Tzolis transferred to English side Norwich City for 11 million euros, with an extra 600,000 euros earned from his later sale.
In another domestic development, defender Dimitris Giannoulis was acquired by PAOK at a young age from Greek club Vataniakos for 20,000 euros. PAOK eventually earned 8.5 million euros from his transfer to Norwich City, consisting of an initial 7.5 million euros fee and 1 million euros in add-ons.
Foreign Imports and Secondary Resales
Among foreign players signed by PAOK, the largest direct transfer remains striker Aleksandar Prijovic. The Serbian forward joined Saudi Arabian club Al Ittihad in January 2019 for 10 million euros when his release clause was activated.
Spanish forward Lucas Perez also generated significant overall revenue for the club. PAOK initially collected 1.5 million euros from his sale to Spanish team Deportivo La Coruna, and later received an additional 6 million euros when Perez transferred to English club Arsenal.
Other foreign player transfers contributing to PAOK's revenue total include Croatian goalkeeper Dominik Kotarski, Brazilian midfielder Douglas Augusto, Cape Verdean winger Garry Rodrigues, Polish striker Karol Swiderski, and English forward Chuba Akpom. Each transaction involved distinct market conditions aimed at maximizing player valuation.
Full List of PAOK's 22 Major Sales
The 22 largest player sales completed by PAOK during the administration of Savvidis, including initial fees and subsequent resale earnings, stand as follows:
- Giannis Konstantelias to Borussia Dortmund for 26 million euros plus 6 million euros in add-ons
- Stefanos Tzimas to Brighton for 22.5 million euros
- Kostas Koulierakis to Wolfsburg for 11.75 million euros
- Christos Tzolis to Norwich City for 11 million euros plus 600,000 euros
- Aleksandar Prijovic to Al Ittihad for 10 million euros
- Dimitris Giannoulis to Norwich City for 7.5 million euros plus 1 million euros
- Lucas Perez to Deportivo La Coruna and Arsenal for 1.5 million euros plus 6 million euros
- Dominik Kotarski to Copenhagen for 5 million euros plus 1.5 million euros
- Douglas Augusto to Nantes for 5.5 million euros
- Garry Rodrigues to Galatasaray and Al Ittihad for 3.5 million euros plus 1.8 million euros
- Karol Swiderski to Charlotte FC for 4.5 million euros
- Chuba Akpom to Middlesbrough for 4.43 million euros
- Sverrir Ingi Ingason to Midtjylland for 4 million euros
- Efthymis Koulouris to Toulouse for 3.5 million euros
- Robert Mak to Zenit Saint Petersburg for 3.5 million euros
- Dimitris Limnios to Koln for 3.3 million euros
- Robin Olsen to Copenhagen for 2.95 million euros
- Antonio Colak to Rangers for 2.5 million euros
- Georgios Koutsias to Chicago Fire for 2.36 million euros
- Dimitris Pelkas to Fenerbahce for 2.2 million euros
- Gojko Cimirot to Standard Liege for 2 million euros
- Khaled Narey to Al Khaleej for 2 million euros
The transfer of Konstantelias to Borussia Dortmund sets a new financial benchmark for PAOK, reinforcing the club's position as a major producer and exporter of football talent.
