By Aris Barkas/ barkas@eurohoops.net
After five years with Olympiacos, Thomas Walkup is moving to Dubai BC, with the Greek club announcing the move.
As Eurohoops first revealed in July, Dubai has approached Walkup despite his contract with Olympiacos.
The Greek club initially reacted strongly, since his contract didn’t include a buyout; Walkup unilaterally terminated his contract; however, in the end, the three parties found common ground, resulting in an official transfer.
Αccording to sources, Walkup will get $9,6M gross for a three-year deal.
The final sum of the buyout paid by Dubai to Olympiacos is $2.6M. The contract also includes a clause that will give extra compensation to Olympiacos if he returns to Greece for another team in the next three seasons.
Per sources close to Dubai, the buyout paid to Olympiacos was actually $1.8 million. Walkup will net around $1.3 to $1.5M after US taxes.
Of course, Eurohoops stands by the initial report of a $ 2.6 M buyout and a gross salary of $3,2M.
Per the press release: “Thomas Walkup will continue his career with Dubai Basketball following an agreement reached between the two clubs.
We thank Thomas for his contribution to Olympiacos and wish him every success in the new stage of his career.
In the five years he played for Olympiacos, we won 12 titles, reached 5 consecutive Final Fours, and reached the top of Europe last May. It was a shared journey full of successes, with great moments but also challenges. We hope that this beautiful journey will remain forever in everyone’s hearts and minds.
The agreement with Dubai Basketball also represents the beginning of a closer relationship between the two clubs, which is based on mutual respect and Dubai Basketball’s sincere commitment to the fundamental values of the EuroLeague.”
Financial terms
The last paragraph seems to address the issue of the disciplinary proceedings that EuroLeague opened against Dubai, which is also expected to compensate Olympiacos financially. According to Eurohoops sources, the final sum of the buyout paid by Dubai to Olympiacos is $2.6M.
A similar paragraph is included in Dubai BC’s press release: “Dubai Basketball have great respect for Olympiacos, and we hope this agreement can contribute to a positive and lasting relationship between our clubs in the future. Both organizations are also committed to working together to support the development and growth of the EuroLeague and to playing a key role in the expansion of its new franchise model.”
With the case closed, it’s safe to assume that there will also be no punishment for Dubai.
Speaking about the transfer, Dejan Kamenjasevic, General Manager of Dubai Basketball, added: “Thomas is a very important signing for Dubai Basketball and another step forward in the direction we want to take as a club. His understanding of the game, competitiveness and ability to make the players around him better will be extremely valuable for our team. I would also like to personally thank the management of Olympiacos for the way the discussions were handled and for helping us reach an agreement that allows Thomas to begin this new chapter with Dubai Basketball”.
Walkup says goodbye
Minutes later, the Greek point guard shared a farewell text to all Olympiacos fans: “I would like to express my heartfelt gratitude to Olympiacos and its incredible fans for the unforgettable years and memories we shared, as well as for the titles we won together, most importantly the recent Euroleague championship. I would especially like to extend my sincere thanks to the owners of Olympiacos for the trust, appreciation and support they consistently showed me throughout my time in Greece.
I would like to make it clear to all Olympiacos fans that it was never my intention to cause any disappointment or frustration among the fans or within the organization. I have great respect and appreciation for Olympiacos, one of the most historic and successful clubs in European basketball and it was an honour to play in Olympiacos colors.
As I continue my career in another country and begin a new chapter, Olympiacos will always hold a special place in my heart. I will forever cherish the experiences, friendships and achievements we shared and I wish the club, its fans, and everyone associated with Olympiacos continued success in the years ahead”.
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