Olympiacos Piraeus announced the signing of Greek national team guard Michalis Lountzis. The EuroLeague club and the former Promitheas Patras guard signed a three-year deal.
Last season Lountzis played in the EuroCup and averaged 6.7 points, 3.1 rebounds, 1.6 assists, and 7.5 PIR in the continent's second-best tournament.
Lountzis, 22, started his professional career with Panathinaikos Athens. He became the youngest player to appear in the Greek Cup Final and made his EuroLeague debut in the playoffs against CSKA Moscow in April 2015.
Lountzis became the second offseason addition for the Olympiacos after the Greek powerhouse signed Thomas Walkup earlier in the summer.
 | Olympiacos Piraeus | |
| Position | Player | Status |
| PG | Kostas Sloukas | Signed until 2023 |
| PG | Thomas Walkup | Signed until 2024 |
| PG | Giannoulis Larentzakis | Signed until 2023 |
| PG | Alexandros Nikolaidis | Signed until 2025 |
| SG | Michalis Lountzis (story) | Signed until 2024 |
| SG | Aaron Harrison | Contract option +1 |
| SG | Antonis Koniaris | Contract option +1 |
| SF | Kostas Papanikolaou | Signed until 2023 |
| SF | Shaquille McKissic | Signed until 2023 |
| SF | Vassilis Charalampopoulos | Signed until 2023 |
| PF | Aleksandr Vezenkov | Signed until 2022 |
| PF | Livio Jean-Charles | Signed until 2022 |
| PF | Vassilis Christidis | Signed until 2025 |
| C | Moustapha Fall | Signed until 2022 +1 |
| C | Hassan Martin | Signed until 2022 |
| Coach | Georgios Bartzokas | |
| Expired contract | Vassilis Spanoulis (retirement), Georgios Printezis, Octavious Ellis, Kostas Koufos | |
| Rumored to leave | ||
| Interested | Kostas Antetokounmpo, David Lighty | |
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