Thomas Walkup seeks Olympiacos contract termination after €3 million Dubai offer

Contract termination dispute

Olympiacos point guard Thomas Walkup submitted a unilateral written notice of contract termination on 18 August 2026, seeking an immediate release from the Greek club without mutual consent. The 34-year-old Texan guard remains signed to the Piraeus club under an agreement that extends through the summer of 2027. Olympiacos management immediately rejected the filing, characterizing the termination as groundless and confirming that the player remains legally bound to fulfill his obligations. The Greek club issued a formal public statement setting expectations for the upcoming pre-season schedule:

Basketball player Thomas Walkup notified Olympiacos BC today of a unilateral written termination of his contract, requesting, without cause, his immediate release. Olympiacos BC categorically states that the athlete's contract is in force until the summer of 2027. Consequently, we expect him on Thursday 20/8 in Greece for the scheduled medical and ergometric tests. In the opposite case, Olympiacos BC reserves the right to use every legal means to protect its rights.

Financial terms and Dubai negotiations

The confrontation follows negotiations involving Dubai BC, which extended a formal contract offer valued at €3 million to the guard. Walkup currently earns an annual salary of €1 million under his active terms with Olympiacos. Although Dubai BC reached personal agreement with Walkup, the Emirati club did not submit an offer meeting the financial buyout terms demanded by Olympiacos. Because the clubs could not agree on transfer terms, Olympiacos refused to grant permission for the move. Walkup attempted to bypass the stalemate by terminating the existing agreement unilaterally to enter the transfer market as an unencumbered free agent.

Legal filings and union response

Following the contract termination notice, Walkup initiated proceedings with the EuroLeague court, arguing that a player cannot be held when presented with a €3 million salary offer against a €1 million deal. Walkup simultaneously requested a formal advisory opinion from the EuroLeague Players Association (ELPA) to support his immediate release. ELPA rejected the request, advising that a player cannot unilaterally declare free agency while bound to a valid, existing contract. If the standoff continues, the case is set to move to the Basketball Arbitral Tribunal (BAT), the independent FIBA tribunal based in Geneva, Switzerland. Under BAT procedures, Walkup would be required to present specific contractual breaches by the club to secure release, with the risk of facing a full-season competitive suspension if the tribunal rules against him.

Absence from Athens pre-season camp

On 19 August 2026, one day prior to the scheduled start of pre-season testing, Walkup published video footage on social media showing him conducting individual training workouts in New York City. Walkup was not selected for international duty by Greece national team coach Vassilis Spanoulis, leaving him with no international commitments and requiring his presence in Piraeus. Head coach Georgios Bartzokas set the first squad gathering and medical evaluations for 20 August 2026. Olympiacos confirmed that if Walkup fails to report on Thursday, the club will pursue legal action for breach of contract, citing damages for defamation, lost earnings, and the roster disruption of beginning pre-season preparations down one point guard.