After a number of departures from its roster, Olympiakos announced its first two signings for the new season, acquiring two young US players, Kyle Hines and Kalin Lucas.
Hines is a 25-year-old center who starred at German champion Brose Baskets last season having graduated from North Carolina.
Olympiakos announced his signing on July 22, and a day later it confirmed the acquisition of Lucas, too.
Lucas is only 22 years old. He is a guard and comes straight from the Michigan State Spartans, with which he played at the NCAA finals in 2008-09.
The Reds are also reported to have reached an agreement with forward Michalis Pelekanos for one more season. The 30-year-old Greek will get 150,000 euros for the 2011-12 season.