Milutinov signed a two-year deal.
Olympiacos Piraeus have officially announced the return of Serbian center Nikola Milutinov to their team, confirming earlier reports from ERA SPORT and various Greek outlets.
Milutinov, who previously played for the Reds from 2015 to 2020, has signed a two-year contract believed to be worth 3.7 million euros.
During his tenure at Olympiacos, Milutinov appeared in 135 EuroLeague games, tallying 1,053 points and 750 rebounds. His contributions helped the team secure the Greek championship title in 2016, and he was recognized as the Most Improved Player of the domestic league in 2017.
Milutinov departed from CSKA Moscow after spending three years with the club from 2020 to 2023.
Throughout the previous season, he averaged 16.1 points, 9.1 rebounds, and 1.5 assists in the VTB League.
 | Olympiacos Piraeus | |
| Position | Player | Status |
| PG | Thomas Walkup | Signed until 2027 |
| PG | Alexandros Nikolaidis | Signed until 2025 |
| PG | Iosif Koloveros | Signed until 2025 |
| PG/SG | Isaiah Canaan | Signed until 2024 |
| SG | Giannoulis Larentzakis | Signed until 2024 |
| PG/SG | Michalis Lountzis | Signed until 2024 |
| SG/SF | Shaquille McKissic | Signed until 2025 |
| SG/SF | George Papas | Signed until 2024 |
| PF | Sasha Vezenkov | Signed until 2025 |
| PF | Alec Peters | Signed until 2024 |
| C | Moustapha Fall | Signed until 2025 |
| C | Nikola Milutinov (story) | Signed until 2025 |
| Coach | Georgios Bartzokas (signed until 2025) | |
| Expired contract | Kostas Sloukas, Kostas Papanikolaou, Joel Bolomboy, Tarik Black | |
| Rumored to leave | Sasha Vezenkov, Isaiah Canaan, Joel Bolomboy | |
| Interested | Darius Thompson, Kostas Sloukas, Kostas Papanikolaou, Nigel Williams-Goss (story) | |
See all the EuroLeague transfer market news here.
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