In 2004 we decided to financially support Olympiakos without any return or guarantees. In the summer of 2006 we took over the management and in July 2009 we acquired the shares of Olympiakos BC.

During these years many things have happened that we are proud of:
— Olympiakos regained its credibility in the basketball world, nationally and internationally.
— We invested in top notch players and first rank coaches; thus, after many years, the team became highly competitive and is generally accepted as ranking amongst the best European clubs.
— The team participated, after many years, in two consecutive Euroleague Final Four and, after 13 years, in the final of the 2010 competition. It scored a record number of wins in the Greek league twice (2009 and 2011) — it actually came through undefeated in this year's regular season — and won two Greek cups.
— Olympiakos BC paid to the State for taxes alone a total amount of approximately 50 million USD; we wonder if there is any other team which has paid to the IRS any such amount of money in the last 20 years...

All these years we chose and consistently followed a specific path, very different from the one of our opponents.
— It is our conscious decision not to be involved in any way whatsoever in behind-the-door mechanisms controlling and influencing circumstances, teams and championships. We did not want to do it and did not do it. As far as we are concerned, any success which is the result of manipulations and referee favoritism is not a real success. End of story.
— It is our conscious decision to communicate with basketball authorities (State, Hellenic Basketball Federation/EOK, Central Refereeing Committee/KED, Hellenic Basketball League/ESAKE) directly, openly under our name and through official channels only.
— It is our conscious decision to reject the model of creating, financing and supporting team-associated press or influencing any media; instead our interaction with journalists has remained at a strictly professional level without commitments and dependencies.
— It is our conscious decision our relations with the fans of Olympiakos to remain healthy and in a context of mutual respect.
— It is our conscious decision to do everything in our powers in an effort to contribute in the quashing of violence, wherever its origin. This year, we, with the support of our fans, succeeded.

Once again this year the decisions of the referees and the usual manipulations determined the champion. One does not even know where to start or end when it comes to the Greek refereeing establishment... Not only those who have repeatedly and flagrantly wronged Olympiakos have never been punished, but are on the contrary rewarded and provocatively promoted. It is no wonder that they have become audacious to such incredible levels as the world record of 18 versus 2 free throws during the second period of the second final at a point when Olympiakos had a 10-point lead!

The last game of this year's finals has taken place under conditions which should not have even allowed it to start in the first place: inadequate security measures, thousands of fans entered illegally without ticket, security zones violated, masked persons and “henchmen” present behind the team benches and the officials’ desk in full TV-broadcasted view under the tolerance of the police, and as a highlight the unmanly and unprecedented criminal attack against the players and coaches of our team.

We are not going to shift our responsibilities to anybody. We have never done so and are not going to do so now. During our trail we have of course made mistakes. We have been criticized many times. Criticism made in good faith, even harsh, has never disturbed us. With regard to unethical attacks, the only way available is to resort to justice.

This is our philosophy, what dictates our actions. We are proud that throughout the years that Olympiakos was under our leadership we have never forfeited our values.

During our trail we have demanded the self-evident, namely legality, equal treatment and transparency. We intervened and protested in public and made specific proposals.

During all these years we are fighting off a “system” that reacts tenaciously and undermines persistently our efforts to achieve what our team and fans deserve.

Taking into account all the above and having exhausted all options which are consistent with morality, legal order and common sense, feeling disgusted, we step out, pain heartedly, from our team, Olympiakos, and the Greek basketball.

We would like to thank all those that during all these years believed in us, supported us and fought with us.