The Greek giants are in trouble for failing to pay monies owed Michael Essien
The decision to deduct Panathinaikos for their refusal to settle the salaries of Essien from February to March was taken by the EPA Arbitration Court.
The court has given the Athens based side five-day deadline to settle the full amount or reach an agreement to settle.
In detail, the announcement:
"The Arbitral Tribunal took the following decision concerning the case of the applicant MICHAEL ESSIEN, a professional footballer and the defendant, the application of Socrates Societe Anonyme under the name PANATHINAIKOS AO. Accepts the applicant's application form MICHAEL ESSIEN from 2-3 -2018 (under Protocol No. 8077 / 2-13-2018).
“It shall act to the detriment of the Defendant until the full and complete redemption of the applicant, in the light of the present causes and amounts, of the three (3) grade penalty imposed by the above-mentioned 100/2017 decision within three (3) working days from the day following the notification of this "
Panathinaikos is facing the threat of relegation over mounting financial troubles amid reports that players have been skipping practice in protest at payment delays.