A basketbal disciplinary court penalized Olympiakos on Saturday with a six-point deduction after it stormed off the court last Wednesday during a Greek Cup semifinal against rival Panathinaikos.
The team, which left the match at halftime while trailing 40-25, cited the quality of the refereeing.
The Piraeus club was also fined 7,000 euros.
The court said the team’s withdrawal was unmerited and a “defamation of the sport.”
Olympiakos’s action allowed Panathinaikos to progress to Sunday’s cup final against PAOK in Crete.
Panathinaikos president Dimitris Giannakopoulos placed a pair of red panties on the Olympiakos bench after the game was awarded to his team.