Olympiacos BC have called all its current players (except the new arrivals) to think about re-negotiating their yearly wages down by 25%.
According to the club officials it is not a compulsory move for the players, but something that will be much appreciated by the club due to the new taxation laws in Greece, the general bad state of the entire Greek economy and of course the fact that over the past five years the hundreds of millions of euros spent by the club has only brought one Greek club, so far.
The players “aimed” with this move are obviously Papaloukas (3.5 millions), Bouroussis (1.7 millions) and Vasilopoulos (1.4 millions) who isn’t even counted on by Ivkovic for the upcoming season.
Except the newcomers Milos Teodosic was also not called to renegotiate his contract as his wages are not considered large.
Could this be a temporary action or a new club policy? Olympiacos have already gotten rid of Childress (4.2 millions) and Kleiza (2.5 millions) contracts and still looks to reduce its budget.