Thomas Walkup has made his move — and he’s doing it entirely on his own terms. The veteran guard who helped Olympiacos win the EuroLeague title just months ago has formally notified the Greek club of his intention to unilaterally terminate his contract, kicking off what is shaping up to be one of the messiest transfer disputes European basketball has seen in years.
The latest details, reported by Michalis Stefanou of Betarades, paint a picture of a player who has completely taken matters into his own hands. Walkup has reportedly already reached a verbal agreement with Dubai Basketball — a deal worth around €3 million gross per year — without asking for or receiving permission from Olympiacos to negotiate. In a move that has raised eyebrows across the continent, he has also sidelined his own agents after they reportedly tried to talk him out of entering into a direct confrontation with the club. He has since hired a lawyer in Italy to handle the legal side of his exit.
“Thomas Walkup today notified Olympiacos BC in writing of the unilateral termination of his contract, requesting his immediate release without cause.” — Olympiacos official statement, August 18, 2026
Olympiacos, for their part, are having none of it. The reigning European champions responded swiftly and bluntly, stating that Walkup’s contract remains fully valid through the summer of 2027 and that the unilateral notice carries no legal weight as far as the club is concerned. They have demanded he report for mandatory medical examinations on August 20, warning that failure to appear will trigger legal action to defend the club’s contractual rights. The message from Piraeus is clear: if Walkup wants out, he’ll have to go through the courts to get there.
This standoff has been building for the better part of the summer. Dubai Basketball first approached Olympiacos back in July with an offer of around €600,000 to purchase Walkup’s contract. Olympiacos rejected it without hesitation. Dubai came back with an improved offer of €870,000, describing it as their final bid — Olympiacos rejected that too. The club’s asking price, according to reports, was closer to €3 million in compensation, a figure widely considered steep for a player earning roughly €1 million per season with no buyout clause in his deal. With no agreement in sight, Walkup appears to have decided to force the issue himself.
No one could have imagined that Thomas Walkup’s 5-season run with Olympiacos would end this way 🫣 pic.twitter.com/4qm7l7BG0d
— BasketNews (@BasketNews_com) August 18, 2026
The 33-year-old from Pasadena, Texas, has spent five seasons in Piraeus and built a legacy that few foreign players in Greek basketball history can match. He holds Greek citizenship, has represented the Greek national team, and was a cornerstone of the squad that claimed the EuroLeague championship at the 2026 Final Four in Athens. None of that history, it seems, is enough to keep him. The lure of a contract reportedly worth up to €9 million over three years with Dubai Basketball has proven stronger than any sentimental attachment to the club where he became a champion.
What happens next hinges almost entirely on whether Walkup shows up on August 20. If he does, Olympiacos still holds all the contractual cards. If he doesn’t, the legal battle begins — and European basketball gets a transfer saga that could drag well into the season.