 In 2004, Mytilineos announced his desire to leave the team and therefore sell it to Giorgos Spanoudakis (a friend of his from their school years, who used to be first vice-president of the club), for just €1, since the team was heavily in debt.Spanoudakis initiated a series of expensive but unsuccessful deals like Polish international Cezary Kucharski and Serie A veteran Giuseppe Signori, driving the team close to bankruptcy.He later tried to get rid of the team by selling it to yet another unknown businessman named Dimitris Houlis, who had been a president of Akratitos F.C.. After a 5-month period during which Houlis controlled the team, the Greek football commission finally annulled the transfer, raising questions in the media regarding its handling of the previous one between Mytilinaios and Spanoudakis, too.