The two Greek and Euroleague giants have decided to form a united front against Euroleague regarding the TV broadcasting rights revenue they collect from Euroleague as both clubs are very unhappy with the current terms.
According to the prasineanea.gr portal Panathinaikos and Olympiacos met today and discussed the issue at the highest level possible. Panathinaikos was represented by their vice-president Thanasis Giannakopoulos and Olympiacos by the Angelopoulos brothers, who are officially the shareholders of Olympiacos Basketball Club since some weeks ago.
Both clubs feel that the Central TV Broadcast rights held by Euroleague does not allow them to take advantage of their popularity and potential at full and turn it into revenue.
Panathinaikos and Olympiacos are now receiving less than 1.000.000 euros each, per year, from Euroleague for their TV rights, whereas they are confident that they could be receiving as much as 5.000.000 each if they had the right to negotiate their TV rights on their own.
This is not the first time the two powerhouses unite their forces to promote their agenda. The two clubs have resisted to a Central Greek A1 TV broadcast rights by deciding to negotiate themselves a lucrative multi-year contract with the Greek channel ANT1.