Team of the Tournament. FIFA named Zagorakis as a contender for the 2004 FIFA World Player of the Year award (he finished in 17th place alongside Spain's and Real Madrid's legend, Raúl), as well as UEFA named him for the 2004 Ballon d'Or award (he finished in fifth place), behind the likes of Ronaldinho (third place) and Thierry Henry (fourth place). He holds the record of most consecutive matches (57) (except one in 2006 because of injury) of the national team (due to either injury or not selection) since his first cap in a period of 12 years. After 12 full playing years as the captain for Greece, Zagorakis announced his retirement from international football on 5 October 2006. More specifically, Greece captain was considering retiring after his team's European championship qualifier against Norway in Athens on 2 October 2006, has also been called up for the match against Bosnia four days later, officials said. On 22 August 2007, however, he played for the last time with the national side, in a special friendly match against Spain in Toumba Stadium, Salonica. He played for about 15 minutes and was then replaced by Giannis Goumas, receiving an applause by fans singing his name. PAOK presidency Following his retirement as a footballer, after many widespread rumours, it was announced that he was to become PAOK's new president, on 18 June 2007. The club had been in dire financial straits for several years. Zagorakis undertook to sort out finances by attracting investors, increasing revenue and mobilising the club's fan base. In his unifying first statement he said: "The strength of PAOK lies in its supporters, its fans...I would have not made this decision" (to retire from playing and assume administration) "if i did not love my club. The situation for PAOK is very difficult and I will not try to hide its problems; instead I will do all I can to solve the pressing financial issues." Soon he set about restructuring the club's debt and team, and recruited former teammate Zisis Vryzas as technical director. As of late 2008, PAOK has been able to pay off most of its accumulated debt, seen a steady increase in ticket sales and advertising revenue, and team performance on the field has improved considerably, under the coaching of Portuguese manager Fernando Santos. On 15 December 2008, Zagorakis announced a major issue of new stock by the club,