The future of the Cyprus Club in NSW

This Sunday, the Board of Cyprus Club will hold an election to determine the next members of the Club’s Board. Two teams are running as candidates. Mr. Michael Kyriacou represents the Save the Club Committee, a group who is determined to modernize the Club and make sure it keeps its property, despite the financial difficulties it is facing.

Το κτίριο της Κυπριακής Κοινότητας της ΝΝΟ στο προάστειο Stanmore του Σύδνεϋ Source: Supplied

The election for the Club’s Board will be held on Sunday 26 of May.  

This election is of particular importance because it could determine the financial future of the Club, along with the fate of its properties.

According to sources, the financial state of the Club is not very good. The Club borrowed from the bank in order to buy a number of houses close to its facilities in Stanmore, hoping to get the money back through rent. However this has proven not to be the case. The debt to the bank is almost 5.5 million.  

Mr. Kyriacou and the rest of his team worry that the Club might sell its large property in Stanmore in order to pay off the debt. They are determined to prevent that.

Another of their goals is to give the Club a more modern look and make it appealing to the younger generations. In that way they hope to replenish the Club’s declining membership numbers.

Press Play to hear the full interview in Greek.