Panathinaikos basketball team faces performance struggles in 2026

Panathinaikos has experienced a significant decline in performance since February 2026, losing seven out of nine games across the Greek Championship and the Euroleague. On March 8, the team suffered a defeat against Iraklis at the Ivanofeio arena, despite having held a 21-point lead during the game. The Spanish publication AS reports that the club, which possesses the highest roster budget in Europe at 27 million euros net, is currently facing organizational and performance instability. The team's primary objective for the season was to regain the European throne after losing to Fenerbahce in Abu Dhabi last year. The only major success for the team this season remains the victory against Olympiacos in the Greek Cup final. The club has faced consistent difficulties since the start of February, leading to questions regarding the current project's sustainability. Media reports characterize the team's current state as highly unstable, noting that the Greek Cup is the team's sole achievement amidst a period of poor results. The loss to Iraklis serves as the latest confirmation of these ongoing competitive challenges.