Vassilis Spanoulis will extend his contract with Olympiacos Piraeus, after reaching an agreement with the club’s owners, Panagiotis and Giorgos Aggelopoulos.

The 36-year-old guard had a three-hour meeting with Olympiacos’ owners and decided to renew his contract and retain his place in the team.

The squad’s official announcement is expected, as it is still unclear whether he has agreed to an one or two-year deal.

This is the third time that the three-time Euroleague champion re-signs with the club (2013, 2016), after joining the “Reds” in 2010.

Spanoulis has won two Euroleague titles with the Greek giants (2012, 2013) and has played in two Championship Games as well (2015, 2017). He has also claimed the Greek Basket League title three times (2012, 2015, 2016).