Greek-Australian entrepreneur Bill Pappas has taken over the majority share of Xanthi, the Greek Super League club announced on Wednesday.

"Xanthi announces that the majority share of the club owned by Insports has come to agreement with Greek-Australian businessman Bill Pappas for the transfer of the majority shares," the club said.

Pappas is the current president of Sydney Olympic FC and owner of Forum Group and IUGIS in Australia.

On Wednesday, Xanthi lost to Apollon 1-0 in the first leg of a play-off to determine which team will remain or advance in the Super League.

Xanthi finished next to last in the standings this season while Apollon finished second in Super League 2.