Aris Midea, the Greek basketball club, has announced its intention to accept a binding offer from an investment fund to acquire a majority stake in the team. The announcement came on Friday and awaits final approval from the club’s amateur division, which holds ownership through its public company structure.

The board of directors for Aris Midea approved the proposal and scheduled a meeting for June 27 to discuss the sale further. Following this, a general meeting of the amateur division members will be held at Nick Galis Hall to finalize the transaction, recalling the 2020 acquisition of shares by the amateur division.

Investment Fund Led by Richard Hsiao Poised to Take Control

The investment fund behind the purchase is RHC Group, led by Richard Hsiao, who maintains a close friendship with NBA star Giannis Antetokounmpo and his family. This connection adds significant interest and excitement around the deal, especially given Aris’ upcoming participation in the BKT EuroCup.

After initial approval of the deal, Giannis Antetokounmpo publicly showed his support by sharing an Instagram story featuring himself with his brother Thanasis and Hsiao, displaying the official Aris colors of yellow and black.

Nikos Zisis Expected to Lead as General Manager Under New Ownership

Alongside the change in ownership, former player and current general manager of Greece’s senior national basketball team, Nikos Zisis, is expected to assume the role of general manager at Aris. This leadership transition is viewed as a positive step to strengthen the club’s management as it prepares for upcoming competitions.

Aris Prepares for Domestic and EuroCup Campaigns

Looking ahead, Aris plans to combine its domestic league schedule with the challenges of the 2025-26 EuroCup season. This new ownership and management structure aim to boost the club’s performance both in Greece and on the wider European stage.