In September of 1974, Barlos became President of AEK. The team, which had won the league in 1971, had since fallen on hard times with many of its former star players retired or transferred to other teams. Barlos immediately invested much of his own money and brought coach Frantisek Fadrhonc to the club as well as players such as Christos Ardizoglou, Giorgos Skrekis, Giorgos Dedes, Walter Wagner and Timo Zahnleiter.
AEK became a powerhouse in Greek football winning two successive championships and qualifying for the semi-finals of the UEFA Cup. But Barlos was not satisfied merely by improving AEK's roster: he also built a basketball stadium for the club as well as a covered stand and upper deck for New Philadelphia Stadium.