PHILIPAKOS CONTRACT OPTION EXERCISED
EXTRA TIME
CHAD WINGER - Monday, July 4, 2005
Olympiakos has picked up the first of two extension options on the contract of American midfield phenom Peter Philipakos, a move that will see the New York native remain at the club through at least 2007.

"Olympiakos has renewed Peter's contract for another two years," co-agent and brother Ted Philipakos confirmed to YA on Monday. "A renewal was necessary because the contract he signed with Olympiakos contains options after the first and third years."

The news will come as a confidence boost to the 22-year old as Dusan Bajevic, who originally signed the ex-American University standout in 2004 while at AEK Athens, resigned on June 1st.

Philipakos will now hope to impress new boss Trond Sollied who led Club Brugge to last season's title in Belgium. The Norwegian has replaced Bajevic at the helm of O Thrylos after claiming two championships in a four-year reign at the Jupiler League side.

Debuting for the first team during a January 19th Greek Cup contest against Iraklis, Philipakos would go on to make three appearances for the domestic doublers.

He also dressed for three UEFA Cup matches against Sochaux and Newcastle United, seeing his first European action against the Magpies in the second leg at St. James' Park.

As winners of the National League, Olympiakos will enter this fall's edition of the Champions League in the group stage.

Philipakos will report back to Olympiakos on July 9th for routine medical testing with the full opening of preseason training two days later.

The Young Yank will also get a chance to test his mettle against Claudio Reyna and Manchester City in a preseason away friendly set for August 6th.
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The final stretch of the English league season is upon us, with several Americans on the verge of relegation with their teams.
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