Thomas Walkup holds a massive offer from Dubai, Olympiacos is carefully weighing its options, and the European basketball market is following every development with bated breath.
When Georgios Bartzokas decided to sign Thomas Walkup from Zalgiris in the summer of 2021, few could have imagined how spectacularly that partnership would evolve.
The Greek head coach transformed the Texas-born guard into one of the best playmakers in the EuroLeague, and together they led Olympiacos to four Greek League titles, three Greek Cups, four Super Cups, and, of course, the EuroLeague championship at the Telekom Center just a few months ago.
The 34-year-old guard has now firmly established himself among Europe’s elite. Across 277 EuroLeague appearances, he has averaged 6.8 points, 2.8 rebounds, 4.5 assists and 1.1 steals per game.
Now, Walkup is preparing to sign what will most likely be the final major contract of his career and is looking to capitalize on last season’s outstanding campaign. His 5.7 assists per game played a crucial role in leading Olympiacos to both the EuroLeague and Greek League titles. It is worth noting, however, that the experienced point guard remains under contract with the Reds until the summer of 2027.
For quite some time, the prevailing belief was that Olympiacos and Walkup would eventually sit down at the negotiating table and reach a new agreement that reflected the mutually beneficial relationship they have built over the past four years. After all, Olympiacos—and especially Bartzokas—helped elevate Walkup to the very top of European basketball, while the American orchestrated the team’s offense masterfully and became one of the continent’s premier defensive guards.
It should be remembered that the former Ludwigsburg player led the entire EuroLeague in steals in 2023 before being named the competition’s Best Defender in 2024.
From Olympiacos’ perspective, there is a clear belief that the club invested in and developed the player who is now recognized throughout Europe. At the same time, with EuroLeague salaries skyrocketing and Olympiacos handing significantly larger contracts to newcomers such as Kody Miller-McIntyre and Jean Montero, it was only natural for Walkup to seek a substantial salary increase himself.
However, negotiations over the American point guard’s future have taken an unexpected turn, leaving every scenario on the table. To understand the current situation, it’s important to revisit the public comments made by both sides in recent weeks.
Walkup was the first to publicly address the issue during an interview with Eurohoops when he was asked whether he envisioned finishing his career in Greece.
“I wouldn’t necessarily say that. We love it here, but you always have to go where you’re respected. That’s the most important thing—being respected and appreciated. We definitely love it here, but earning respect from your club also comes down to how they value you and how they pay you. So yes, we really like it here.”
His comments immediately fueled speculation about his future.
A few days later, Olympiacos owner Panagiotis Angelopoulos responded publicly, referencing both Walkup’s and Tyler Dorsey’s contract situations.
“It’s a good opportunity for people to hear our position. A contract is an agreement that both sides are expected to honor. If someone looks at the media landscape after we won both the Greek championship and the EuroLeague, I don’t know if this happens anywhere else. When the team succeeds, the player wants more money. When the player underperforms, he still gets paid in full. We end up losing either way. People casually say one player should earn €2 million and another €3 million, while completely ignoring concepts like budgets and salary caps. I don’t think that if we simply start handing out money, anyone will have extra motivation to win the EuroLeague.”
Meanwhile, Bartzokas himself recently stated that Dubai is among the clubs disrupting the European market with the financial packages it is offering players, adding another important piece to an already fascinating puzzle.
The reason behind all the speculation is straightforward. The club from the United Arab Emirates has reportedly offered Walkup an extraordinary three-year contract worth $9 million.
Unsurprisingly, such a proposal has caught the veteran guard’s attention.
Nevertheless, as previously mentioned, Olympiacos still holds the upper hand because Walkup remains under contract for next season. The reigning European champions are expected to exercise their opt-in clause before reopening negotiations with the player’s representatives.
Will the two sides find common ground, with Walkup signing a new deal that includes a significant salary increase? Or will negotiations eventually shift toward a transfer to Dubai?
At this stage, no one can answer that question with certainty.
One thing, however, is beyond doubt: Olympiacos, Dubai and Thomas Walkup are engaged in a high-stakes poker game that has the entire European basketball market watching every move.
