2009-2017: The top team in Europe

In February 2008, Panagiotis Giannakis took over the team and during summer of the same years super stars came to wear the 'red' shirt. The Greek coach, together with Papaloukas, Vujicic, Childress, Greer, Bourousis, Halperin, Vassilpoulos, Schortsanitis and Teodosic led Olympiacos to a Euroleague Final Four for the first time in 10 years.

In the summer of 2009 Linas Kleiza signed with the team. The Angelopoulos borther were by now the new owners of the team since they has acquired the majority of the shares from Socrates Kokkalis.

In February 2010, Olympiacos returns to winning titles beating Panathinaikos in the Greek Cup Final and a few weeks later the second qualification in a row to a Final Four is a reality. This time, the 'reds' made the final in Paris. Everything by now was pointing to the idea that it was only a matter of time before 'Thrylos' returned in its throne. The European top.

In the summer of 2001, Dusan Ivkovic returned to Piraeus. At the same time, Vassilis Spanoulis said yes to the Olympiacos offer to leave Panathinaikos and this transfer was the one to change European basketball. The coach of the 1997 Triple Crown led Olympiacos to winning the second Greek Cup in a row edging Panathinaikos once again.

Next summer was more difficult for the team. The Angelopoulos brothers declare stepping down from the Olympiacos administration disgusted by what the experienced in Greek basketball all these years. Their love for Olympiacos however led them to not follow up with their decision since there was no interest from anyone to take over, so Panagiotis and Giorgos Angelopoulos decided to change everything and do it all their way.

As a result, Olympiacos returned to the European top after 15 years, in the most thrilling Final Four final of all times, coming up with the greatest upset in the history of world basketball against CSKA Moscow, but also to the top of the Greek championship in a season that will remain carved in the hearts of all fans of the sport.

This team was made to create history and achieve unique goals. In the summer of 2012, Dusan Ivkovic decides to leave Piraeus and the Angelopoulos brothers give the steering wheel ot Giorgos Bartzokas. Nevertheless, staying true to their plan and their way. The whole of Europe was discussing and trying to copy the "Olympiacos model". Under the direction of Giorgos Bartzokas, Olympiacos remained in its European throne succeeding a unique Back2Back playing wholesome basketball in the London Final Four against CSKA Moscow and Real Madrid. A few months later, the 'reds' win the top of the world edging Sky Pinheiros for the Intercontinental Cup revival.

The following season did not bring a title to Piraeus after three years. The loss of the Greek Cup came early in the 2014-15 season and after Giorgos Bartzokas resignation Giannis Sfairopoulos took over as the head coach. The Greek coach led Olympiacos to the Final Four final in Madrid and to the top of the Greek Championship sweeping Panathinaikos 3-0.

One year later and in a most impressive fashion, the 'reds' win the Greek championship for the second year in a row, following a play-off finals series to be remembered. Panathinaikos made a break in the first game at the Peace and Friendship Stadium, however, Olympiacos came back and led by captain Vassilis Spanoulis beat the greens twice at OAKA and for the first time won the title in the home of its 'eternal' rival.

The 2016-17 season did not bring a title for Olympiacos, but it was nevertheless a successful one, since the ‘reds’ got to return to both the Euroleague Final Four, as well as to the competition’s final. Once again, like in 2015 in Madrid, they got to face the hosting team. The Sfairopoulos’ team edged CSKA Moscow in the semis, but lost to Fenerbahce in the final that was practically playing at home with the support of the home crowd.

It was the end of the '30s when the Olympiacos Basketball team was founded with players form the "Ionidio" School. Great personalities of Greek basketball wore the 'red' shirt, coaches wrote history, victories came and Olympiacos played a leading role inside and outside the Greek borders.

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