American guard Thomas Walkup has submitted a unilateral written notice to terminate his contract with Olympiacos, seeking to become a free agent ahead of the upcoming season.
The filing confirms a breakdown in relations between the player and the team, which announced it will take legal action if Walkup fails to report for the start of pre-season training on Thursday, August 20.
Walkup's Financial Claims and EuroLeague Appeal
Walkup has taken his case to the EuroLeague court, demanding the immediate dissolution of his contract. In his written complaint, the guard explained that he has received an external offer worth three million euros annually and argued that Olympiacos should not block his departure while paying him one million euros per year under his current agreement.
The filing follows a report by sports news outlet Gazzetta detailing the rift between the American guard and the Greek club. Walkup also approached the EuroLeague Players Association, the trade union representing players in the competition, seeking a formal legal opinion on his contractual situation.
The players' union rejected Walkup's request, informing him that he cannot be released from his obligations while bound by a valid contract. The union's position supports the standing of Olympiacos under league regulations.
Olympiacos Legal Response and Compensation Demands
Olympiacos announced that it will move to terminate Walkup's contract with full fault assigned to the player if he does not attend the team's first official gathering on August 20. The club plans to file legal claims seeking financial compensation for lost profits and damages for harm caused to its reputation as reigning European champions.
The Greek team will base its claim for lost profits on the disruption caused by losing its primary point guard at the start of pre-season preparations. Walkup has served as a central member of the squad over the past five years, playing a major role in the club's recent successes.
Reports indicate that if Walkup continues to push the dispute to extremes, he faces severe difficulty playing basketball anywhere during the upcoming season.
Club Profile and EuroLeague Standing
Olympiacos BC is a professional basketball club based in Piraeus, Greece, competing in the Greek Basket League and the EuroLeague, the top tier of European club basketball. Walkup, an American point guard who also holds Greek citizenship and plays for the Greek national team, joined the Piraeus club as a core backcourt starter.
