Olympiacos vs Panathinaikos? Euroleague’s Dream Derby Looms

It would require both of them winning on Friday in the Euroleague Final Four. Still, a potential clash of Olympiacos and Panathinaikos in Abu Dhabi would be an extraordinary way to cap the season. Emmet Ryan on why the rare possibility holds so much intrigue in Greece and far beyond.

This column is being written with absolutely no disrespect to either AS Monaco or Fenerbahce. It has been 16 years since Olympiacos and Panathinaikos met in the Euroleague Final Four. Such a rarity makes this a most appealing proposition in Abu Dhabi.

A Rivalry Like No Other

It really needs no introduction to even casual fans of European basketball. The Greek derby was even the subject of our first ever feature length documentary, Enemies, earlier this year. It could be a fight over a toss of a coin and you’d have fans of Panathinaikos and Olympiacos supporters turning up to cheer.

The dynamic between the two in recent times is intriguing. In Greece, Panathinaikos have had the better of Olympiacos in recent times. Yet at Euroleague level, the Reds utterly dominated the regular season rivalry in recent seasons.

They have met three times in the knockout stages of a European competition. In 1995, Olympiacos took the win in the semi-final of the Final Four before losing the decider. In 1997, Panathinaikos were the defending champions but fell 2-0 to Olympiacos in the quarter finals before the Reds took their maiden title. Panathinaikos had to wait until 2009 for payback, winning in the Euroleague Final Four and going on to take the title.

They have never met in a continental final. There were near misses in 2012 in Istanbul and 2024 in Berlin. Could 2025 in Abu Dhabi be the year we get the final of eternal enemies?

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Ataman vs Bartzokas

It’s a clash of coaches with lots of success but wildly different routes there. Both are 59 but Ergin Ataman was forced to wait and wait before finally making the breakthrough with Anadolu Efes in 2021. Having claimed the crown with Panathinaikos a year ago, he’s seeking his fourth title in five seasons.

Georgios Bartzokas went to the Euroleague Final Four in his first season with Olympiacos and walked out of London a champion. He’s been back plenty since, Abu Dhabi will be his fifth visit since that season. It’s also his fourth straight. He has yet to add to his title tally.

They bring personalities with more in common than most would admit but plenty of differences all the same. Indeed, the same could be said for their coaching style. Neither is thinking of a derby in the final right now. They each have jobs to do on Friday. They can worry about the final if, and only if, they get there.

Tactical battlegrounds

We’re talking about a game that needs two results to even happen for it to occur. Still, the field of battle is clear. The Olympiacos backcourt will look to frustrate Kendrick Nunn all they can while making life difficult for the supporting cast around the Euroleague MVP.

How Juancho Hernangomez is used at the Euroleague Final Four will be critical. He can log heavy minutes but twice in three days could be a big ask considering how heavy his usage rate is. By contrast, Sasha Vezenkov doesn’t require a whole lot of touches to get the job done.

Then there’s the fight in the paint. Just how healthy is Mathias Lessort? Can Omer Yurtseven find a new level? Both of these will be enormous questions in a potential match-up. The Olympiacos tandem of Moustapha Fall and Nikola Militunov are not to be trifled with in Abu Dhabi.

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An atmosphere like no other

The fear with a venue like Abu Dhabi for the Euroleague Final Four is that it might mute the intensity. A pairing of Olympiacos and Panathinaikos in the title game would magnify it. When they play each other, there are few if any away fans. The arenas for the Greek Cup and Super Cup are smaller. This would be a full house at maximum intensity.

The Greek fans, Greens and Reds alike, will make it an extraordinary atmosphere. That is, of course, if the meeting is in the final. If both lose and end up in the third place game, we’ll be watching the least interesting derby in living memory.

That will also influence the dynamic on the floor. With one of Panathinaikos or Olympiacos in the title game, you can expect their support to dominate the stands. With both? Well that’s a complexion that even I’m not quite ready for.

The Stakes Beyond the Score

Bragging rights and the battle for them never cease between rivals. With Olympiacos and Panthinaikos, that goes to another level. The mere fact that the Greens can claim 7 Euroleague titles to the 3 of Olympiacos stings the Reds. For more than a decade after 2011, Olympiacos owned the argument at the Euroleague level.

Then Panathinaikos rocked up to the Euroleague Final Four in Berlin last year and won it all. If they meet in Abu Dhabi, the pressure to not lose will overshadow the desire to win. There are implications for Euroleague as a whole as well.

The arms race of last summer with big signings was dominated by the Greek rivals. Should their decisions to splash out result in both making the decider, it will signal a new financial reality in the competition. The cost of success will be visibly higher. At a time when the future of the sport on the continent is up for debate, that would be quite a wrinkle to add.

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