Overview
- Eurohoops reported that Željko Obradović has signed a three-year, €12 million net deal to become Panathinaikos head coach and the club confirmed his return at a public presentation in Athens.
- Obradović thanked supporters and said he never lost contact with the Giannakopoulos family during a ceremony at the Telekom Center where owner Dimitris Giannakopoulos framed the hire as tied to the club’s past and future successes.
- The reported salary—about €4 million net per season—was described by the outlet as the largest coaching contract in European basketball, but those financial details have not yet been independently confirmed.
- The club is presenting the appointment as the formal start of a long-term rebuild to restore Panathinaikos as a top Euroliga contender, a move that immediately raises fan expectations and could affect future coach salaries across Europe.
- Obradović returns to the club he led from 1999–2012 to five Euroleague titles at a moment when Panathinaikos missed last season’s Final Four despite hosting the event, giving the hire clear sporting context and pressure to deliver results.