Olympiakos tries to convince players to accept cuts in pay
Faced with the prospect of drastically reduced earnings from broadcasting rights in the new season, Olympiakos, last season’s runner-up in the national basketball league, is currently renegotiating with players, with the intention of downgrading their contracts in a take-it-or-leave-it fashion. Besides Panathinaikos, the reigning European Champion, the national league’s remaining 13 teams appear to be cash-strapped as a result of basketball’s declining commercial appeal in Greece over recent years. The sport registered phenomenal TV viewer rating figures – at both national and club level – for several seasons after exploding onto the scene in the mid-1980s. But it is now battling to secure a deal for the new season, which is likely to be worth far less than previous agreements. In its series of ongoing talks with roster members, Olympiakos has already reached deals with some players. Playmaker Nikos Boudouris agreed to remain with the Piraeus club for a third successive season. Coach Slobodan Subotic informed the team’s captain Milan Tomic, also a playmaker, about the club’s less sturdy financial standing this season and its repercussions on existing contracts. According to sources, Tomic was understanding and is likely to accept a reduced fee for the new season. Tomic will also be updated on the club’s – and sport’s – position during a meeting today with Olympiakos’s general manager, Christos Stavropoulos. The administrative official will also hold talks with other team members today, including forward Dimitris Papanikolaou, playmaker Theodoros Papaloukas, as well as two of the roster’s younger, less experienced players, forward Periklis Dorkofikis and playmaker Panayiotis Mantzanas. Talks have already been held with French small forward Stephane Risacher and Spanish center Iniaki De Miguel. At this stage, the Frenchman does not look likely to accept a salary cut. Negotiations between Risacher’s manager, Kenny Grant, and the Italian club Sienna are believed to have begun. According to reports, Risacher is Sienna’s top choice among several other players being considered by the Italian club. Despite the crisis in the sport, Subotic, who has been holding regular meetings with Olympiakos President Socrates Kokkalis over the issue, maintains faith in his team’s prospects. «I repeat once again that we’re going to try and present a respectable side which will battle to achieve high-level objectives both in Greece and Europe,» Subotic said. «We’re aware of the difficulties, as we’re talking about a period during which the budget is tight, but we’re all going to have to adjust to this fact. We’re not panicking. On the contrary, we’re working methodically to find solutions that will create a battle-worthy team.»
