The Greek Crown Reclaimed: Olympiacos's Return to Greek Dominance and What Comes Next

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Thrylos 7 International

·20 maggio 2025

The Greek Crown Reclaimed: Olympiacos's Return to Greek Dominance and What Comes Next

Greek Cup Trophy Awarded, Olympiacos vs OFI: Giorgos Matthaios/EUROKINISSI

On the eve of their centennial, Olympiacos faced a crossroads. Following two seasons of domestic frustration and a European campaign that flickered with promise before collapsing under its own weight, expectations in Piraeus were clear but daunting: reclaim the league title, reassert domestic dominance, and prove that last year’s UEFA Europa Conference League triumph wasn’t a fluke, but a turning point.

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Fast forward to May 2025. Olympiacos are double winners for the first time in five years, Greek champions once again, Top 8 in Europa League league phase with the competition's stingiest defense and returning to the Round of 16. The Men of "Thrylos" didn't just meet expectations set in August—they redefined the club's trajectory.

A Season Measured by Standards, Not Surprises

Success, in Olympiacos terms, isn't simply measured by trophies. It’s measured by progression, sustainability, and reclaiming a stature that was waning before coach Mendilibar's arrival.

Last summer, the fanbase and insiders alike agreed: win the league, secure a respectable European run, and ensure the transition into the next era began with structure, not chaos. In hindsight, Olympiacos didn't merely comply with these objectives—they excelled.

The club advanced to the final 16 in the UEFA Europa League, finishing with the competition's most clean sheets and boasting currently the top goalscorer and goalkeeper in the competition. Domestically, Olympiacos captured the title while eliminating rivals Panathinaikos and AEK Athens en route to a Greek Cup win.

Notably, they achieved this while keeping their squad largely intact, a stark contrast to last summer’s chaos, where over 18 contracts hung in limbo. This summer? Only a few questions remain, most notably the potential returns of loanees David Carmo and Andre Horta.

Men of the Moment: El Kaabi and Tzolakis

Ayoub El Kaabi continues to defy logic. Last season, his 36-goal contribution haul seemed like a career peak. This season, he matched it in fewer minutes with greater efficiency. Despite an early-season injury and a slight dip in conversion rate, El Kaabi ended the campaign with 27 goals and 7 assists. His crowning moments? Goals in both domestic and European finals.

Behind him, Roman Yaremchuk blossomed into the most efficient back-up striker in recent Olympiacos memory, and arguably one of the most complete forwards the Greek league has seen in years on a per-90 minute basis. Their tandem performance has given Olympiacos a rare luxury: genuine world-class depth at striker.

And then there’s Kostas Tzolakis. Once a question mark, now a cornerstone. Named one of the best-performing keepers in European competition this season, the 22-year-old not only started every key match but elevated Olympiacos from contenders to legitimate competitors. His maturity, shot-stopping, and rapid improvement in distribution now make him a Champions League-level asset.

Building the Dynasty: The Work Ahead

While celebration is merited, complacency is not. The Champions League looms and while the reformed format opens new doors, it also demands new standards.

Olympiacos must:

Add Quality in Depth: With few contracts expiring, the club can afford to be selective. A quality left-back (following a sale of current starter Francisco Ortega), a dynamic central midfielder, and a top winger will be the focus.
Resolve the Loanees: The futures of Carmo and Horta are still up in the air. Neither player lived up to the expectations set after the Conference League triumph, but both still can provide value to this squad.
Protect and Promote Academy Talent: The integration of Charalambos Kostoulas, Christos Mouzakitis and Tzolakis into the first team was just the first step. Another wave of talent is rising—Stavros Pnevmonidis, Argyrios Liatsikouras, Antonis Papakanellos and others—who must be protected, developed, and used.
Sustain the Mendílibar Blueprint: Jose Luis Mendílibar has optimised a previously bloated roster, creating clarity in roles and maximizing performance. Olympiacos must ensure that the project is allowed to grow with him at the helm. More importantly, they must find players that "fit the system" above all else.
Push for European Consistency: Round of 16 Europa League is now a benchmark. Next season’s Champions League campaign should aim for Top 24 and knockout progression. Anything less would feel like a step back.

The Rivals in Disarray

While Olympiacos is poised for stability, rivals Panathinaikos, AEK, and PAOK face summer chaos. Bloated wage bills, expiring contracts, and internal discontent plague each camp. Olympiacos, meanwhile, are entering the summer with clarity, momentum, and a guaranteed Champion's League prize pool of 30 million euros. Most importantly, Olympiacos has a future and a growing pipeline for its internal talent as its rivals struggle to plug gaps with their aging squads.

It’s not just about winning anymore. It’s about establishing the next Greek football dynasty. For the first time since Pedro Martins's departure, that vision no longer feels aspirational—it feels inevitable.

Final Whistle

In a season that began with the centennial weight of history, Olympiacos found not only redemption, but direction. The standards have returned. The next step? Elevate them.

The Red and White ship is once again at full sail—and the winds of Europe await.