Željko Obradović returns to Panathinaikos on three-year deal after 14 years away

According to a report from Serbian outlet TeleSport, repeated by multiple Greek media on 20 June 2026, Željko Obradović is returning to Panathinaikos as head coach after a 14-year absence. The 66-year-old Serbian has reportedly reached a three-year agreement with the club, worth a total of 10.5 million euros, and received assurances that no one will interfere with his work on the team.

The contract terms

The deal reportedly runs for three seasons at 3.5 million euros per year. TeleSport’s report, carried by NewsIT and NEWS 24/7, states that Obradović secured guarantees over team management and full autonomy in his role. The announcement is expected to draw heavy attention across European basketball.

“Željko Obradović officially returns to Panathinaikos, the club where he wrote some of the greatest pages of European basketball.”

A legendary first act

Obradović’s first spell at Panathinaikos (1999–2012) remains one of the most decorated coaching tenures in the sport. He won five EuroLeague titles with the Greens (2000, 2002, 2007, 2009, 2011), 11 Greek championships and 7 Greek cups. His return is described as the start of a new project that will captivate the continent.

“A move that opens a new project for Panathinaikos, expected to draw enormous attention across basketball Europe.”

The road back

After leaving Panathinaikos, Obradović added a sixth EuroLeague crown with Fenerbahçe in 2017, alongside four Turkish leagues and three Turkish cups. Between 2021 and mid‑way through the most recent season he coached Partizan, capturing one Serbian championship (2025) and two Adriatic League titles (2023, 2025).

What it means

No official statement has been released by Panathinaikos at the time of the reports, but the Serbian media account paints a done deal. The move reshapes the European coaching landscape and brings the most successful coach in EuroLeague history back to the club he led to its greatest heights.