Olympiacos New Season: The Red and White Flame and the First Test at EuroLeague

The September evening in Piraeus felt like a large family gathering. Over two thousand fans poured into the Peace and Friendship Stadium, not to watch an actual game, but to witness Alex Peters and Moses Wright wearing the red and white jersey once again. They had left — moving to Armani Milano — but in the eyes of Olympiacos supporters, they never truly left. "Once red and white, forever red and white." That slogan isn't just a chant in the stands. It's a vow, an invisible thread binding three generations of players together. But in that very evening, as applause rang out for two veterans, a silent question hung in the air: Can Olympiacos this season defend the crown they've built over three years? Georgios Bartzokas stepped onto the practice court with his usual calm demeanor. He doesn't speak much, but every word he says carries weight. "Players left, players came, but our goal remains the same." It's a concise statement, but it contains an entire philosophy of team building. Bartzokas understands that in modern basketball, roster turnover is inevitable. What matters isn't keeping everyone, but preserving the team's soul when faces change. For Olympiacos, that soul is defined by two words: red and white. It doesn't reside in any individual player, but in the system, the culture, the way the entire club — from coaching staff to fans — breathes together. The EuroLeague 2026-2026 season is entering its opening phase with clear signals about the competitive landscape. In the summer power rankings published by experts, Panathinaikos holds firm at number one, with Olympiacos right behind at second place. This comes as no surprise to those closely following the league. Panathinaikos spent heavily in the transfer window, bringing in names capable of making an immediate impact. Olympiacos, conversely, chose a more cautious path: keeping the core framework intact, adding fitting pieces, and placing trust in a coaching system that's been tested and proven. That strategy may not generate headlines, but it reflects a clear philosophy: building a team to win sustainably, not to make a fleeting impression. The return of Alex Peters and Moses Wright during the warm-up session wasn't merely a nostalgic moment. It carried a deeper message about the club's identity. Armani Milano, the club where the two former Olympiacos players now play, posted a social media status with photos from the practice: "Welcome home." Just four simple words, but they broke down walls between "old team" and "new team." In professional basketball, players are often said to be passing through. But at Olympiacos, they never just pass through — they only pause. When Peters and Wright returned, no introduction was needed. They knew the way to the locker room, knew who would stand where in each drill, and knew that the new kids joining the team would look at them as big brothers, as those who laid the foundation for everything the current team enjoys. That bond cannot be bought with money. It's an intangible asset that any club craves but very few can build. Among the new faces at Olympiacos this season, Konstantinos Karagiannis is the name drawing curiosity from experts. The young player isn't expected to immediately become a star. He came with a simple but determined statement: "I want to try, to see if I can or not." That's not the words of an established player. That's the words of someone standing at a crossroads, unsure which direction to take. Karagiannis isn't a blockbuster signing. He's a piece valued for potential, not performance. And that's exactly what makes him one of the most interesting storylines to follow this season. If he integrates well, he could become a crucial piece in Bartzokas's system. If not, he'll be a lesson that potential doesn't always translate into reality. On the court, no one cares what you can do. Only what you've done counts. The first test in Olympiacos's real gauntlet will be the matchup against Fenerbahce. This isn't just another regular-season game. It's the first real examination, a true measure of where Bartzokas's team stands relative to expectations. Tiago Monteiro, Fenerbahce's head coach, made a notable comment when asked about Olympiacos: "They are a big challenge." That statement sounds like a compliment, but in basketball, it's also a way to reduce pressure. When you call an opponent a "challenge," you're setting a framing: whatever the result, you were prepared for a difficult game. But for Olympiacos, Monteiro's words are also a reminder: they're no longer considered an upset. They're a target. From second place in the rankings, all eyes are on them, and every opponent prepares more meticulously when facing them. So what ultimately happens with Olympiacos this season? The answer doesn't lie in summer rankings, nor in early-season interviews. It lies in the 72 games ahead, in every play in decisive moments, in how new faces like Karagiannis integrate into a system demanding absolute precision. Bartzokas said the goal hasn't changed. But that goal isn't necessarily winning the championship immediately. The real goal is maintaining a basketball culture where every player, whether newly joined or here for years, understands that the red and white jersey isn't just a color — it's a commitment. This season won't be easy. Panathinaikos is strong, Real Madrid never gives up, and Monaco is building a roster capable of competing for the crown. But in basketball, as in life, what matters isn't where you start, but how far you go and who you bring along. For Olympiacos, the new season journey has begun. And this time, they're carrying not just their own hopes — they're carrying an entire legacy built with sweat, tears, and unforgettable moments of victory.