Dimitris Giannakopoulos

The fate of the football club of Panathinaikos is hanging in the balance, after major shareholder of the basketball team Dimitris Giannakopoulos released a statement clarifying that despite his efforts to assist in finding a solution for the club and keep it financially viable no progress had been achieved, announcing his intention to abandon any further attempts to intervene.

Panathinaikos owner Yiannis Alafouzos announced on Thursday he is leaving the club and is asking for any wealthy members of the Greens' fan base to take over in this difficult moment for the capital's biggest soccer club.

The Instagram account of the President of Panathinaikos basketball club and major shareholder, Dimitris Giannakopoulos, was flooded with messages by fans urging him to take control of the football club, minutes after the owner of Skai TV and outgoing President of PAO Giannis Ala

Istanbul has proven a black hole for Greece's representatives in the Euroleague, with Panathinaikos eliminated from the competition on Tuesday and seeing fresh problems threatening its domestic season too, while Olympiakos suffered another loss on Wednesday and is also on the verge of elimination.

A prosecutor investigating sports-related issues has launched an investigation against Panathinaikos basketball club owner Dimitris Giannakopoulos after he was accused of directing threats at Olympiakos captain Vassilis Spanoulis following a league game between the two teams on Saturday.

By George Georgakopoulos

Panathinaikos won its fourth consecutive Greek basketball cup and a record 16th overall, downing Apollon Patras 68-53 in Sunday?s final at Panathinaikos?s home Olympic Sports Hall, after a remarkably tough and eventful campaign.

By George Georgakopoulos

Panathinaikos wasted a great chance to upset Barcelona in Spain, going down 80-76 on Friday for its first loss in the top 16 of the Euroleague, on the day it found out its win over Olympiakos in the Cup has been annulled.

 Olympiakos beats Panathinaikos 69-64 away

By George Georgakopoulos

Olympiakos has taken a huge step toward returning to the Greek throne after defeating Panathinaikos 69-64 away on Thursday to get a 2-1 lead in the best-of-five final series and break a 28-game-long jinx that had prevented it from beating the Greens at the Olympic Sports Hall for the playoffs.