By Johnny Askounis/ info@eurohoops.net
The latest agreement between Panathinaikos and the Greek government regarding OAKA Altion sets up the Greens for the exclusive use of the Athens gym for the next 49 years.
The deal for the long-term license followed the initial agreement pending a solution for parking spaces near the arena. For several months, officials of both sides were in talks aiming to finally end the dispute and reach a deal.
The team based in Athens continuing to play in OAKA for the foreseeable future provides the stability necessary for the further growth of the club. Settling for short-term renting agreements to securing a home for the next 49 years is a big step forward for Panathinaikos on multiple levels. The long-term license for the rights to use OAKA is expected to become official over the next few weeks.
Greek outlet Gazzetta first reported the deal between Panathinaikos and the Greek government.
Besides Panathinaikos, the Olympic Indoor Hall located in Marousi previously suited AEK and Marousi in home games. In addition, it hosted numerous international and continental tournaments since being completed in 1995.
On the court through the 2022-23 season, Panathinaikos struggling to get things going has been limited to an 11-21 record in EuroLeague, missing the Playoffs for the third year in a row. Locked in the second seed of Greece’s Basket League and under the guidance of Christos Serelis, competing for the domestic league championship will be the focus the rest of the way.
Photo Credit: EuroleagueBasketball.net