Olympiacos Clears Path for Coventry City After Sealing €5m Deal

Olympiacos F.C. continues to strengthen their squad ahead of the start of the 2026-27 season. In recent hours, it was reported that Jose Luis Mendilibar will remain in charge as head coach after Evangelos Marinakis reiterated his confidence in the Spanish manager, despite the team being knocked out in the UEFA Champions League qualifying rounds.

The Piraeus club will therefore participate in the UEFA Europa League's league phase, and Marinakis has already expressed his confidence in Mendilibar for this season.

After this, the club is already reaching agreements to strengthen the squad. According to information from Sport24, the Greek club reached an agreement with Red Star Belgrade on Friday, and everything indicates that the Red and Whites have raised their offer to more than 5 million euros for Armenian left-back Nair Tiknizyan.

This information comes as a breath of fresh air for Coventry City, which shares a transfer target with Olympiacos at this position. We are talking about Porto left-back Francisco Moura.

According to Portuguese outlet Record, Olympiacos’ acquisition of Moura was paused because of internal developments at the club. Apparently, the Greek club has abandoned this option, clearing the way for the newly promoted Premier League side.

A few days ago, A Bola reported that Coventry City are one of the clubs interested in Moura, adding that they are not the only English team monitoring his situation. Just a few hours ago, Tutto Mercato also linked Serie A side Fiorentina with Moura.

Still, the fact that Olympiacos are no longer in the race is a good boost for Coventry City.

Returning to the Sport24 report, it says the only thing left is to formally close an agreement on performance bonuses, but it indicates the deal's essence is already closed and that the bonuses do not change the situation much.

The same information indicates that the Red and Whites had started talks with Tiknizyan’s club even before the Champions League qualifying tie against NEC Nijmegen.

Mendilibar would consider the Armenian a player who fits perfectly with what he needs for his team. The player himself reportedly even rejected a very significant financial offer from Zenit St. Petersburg in order to sign with the Greek club.

Sport24 concludes its report by explaining that there could be more developments regarding this in the coming days, but everything is well on track for the left back to become Olympiacos’ latest major signing. Let's see.