Olympiakos concedes its European crown in water polo

Olympiakos conceded its European title to Hungary's Ferencvaros on Saturday, losing at the shootout in the final of the LEN Champions League in Hannover, Germany.

The Reds, reigning champions from 2018, dismissed Brescia in the quarterfinal with an 8-7 score on Thursday, and played a dramatic semifinal with Pro Recco, another Italian team, to win 12-11 with a final-minute goal by Constantinos Gennidounias on Friday.

In Saturday's final the Reds came up against a very strong opposition in the shape of the Hungarian giant that would win its first Champions League title on the night.

Early on Ferencvaros secured a commanding lead (5-2) thanks to its efficiency in the extra man, to advance 8-5 by half-time and 10-7 at the end of the third period.

However the team of coach Thodoris Vlachos staged its fightback in the last quarter, levelling the score at 10-10...

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