Acie Law has decided to conditionally renew his contract with Olympiacos, until the summer of 2013.
Law was signed in mid-season last year but turned out to be a key part of Olympiacos success, alongside his countryman and fellow mid-season signing Joey Dorsey.
However while Dorsey has had several offers and workouts with NBA teams, Law didn't find what he was looking for in the NBA and decided to prolong his stay in Europe.
The American guard who averaged 5.5ppg and 2.1apg in 12 Euroleague games last season has inked his new contract which will see him in Piraeus until the summer of 2013.
Law can cancel the contract within the next three weeks if he finds a better offer form an NBA team.