2005-2008: Fell only to get up stronger
2003-04 and 2004-05 seasons were very difficult for Olympiacos BC but the presence of Angelopoulos brothers, brought hope.
The Lithuanian coach Jonas Kazlauskas comes to Piraeus and following the initial tough season, the foundations for Olympiacos to return among the elite of European basketball are set during the summer of 2005, since players like Edny and Zukauskas come to the team joined by many talented Greek players (Vassilopoulos, Schortsanitis). Elimination at the last moment of the 'reds' from the Prague Final Four against the mighty at the time Maccabi Tel Aviv is proof enough that something great is starting to form.
Kazlauskas decides to remain in the bench of the national team of China in the summer of 2006 and the great Pini Gershon comes in his replacement. The Israeli coach brought the team a step away from winning the title but the misfortune with the serious injury of Macijauskas combined with dubius officiation of the games against Panathinaikos did not allow the much coveted title to come.