Toko Shengelia-Panathinaikos Deal: Virtus Aims to Maximize Profit. The Details

Toko Shengelia has reportedly reached an agreement with Panathinaikos and is looking to leave Virtus Bologna. This information was reported late last night by George Zakkas of SDNA. But let’s put things in order.

Georgian forward has made his decision. Just over sixteen months after his arrival in Bologna, Shengelia considers his journey with the black and whites to be over. In between, he clinched an EuroCup, a Supercup, and notably, he signed a contract until June 30, 2024.

This is the last hurdle. For days, various media outlets have been depicting Virtus as inclined to let the player go. The substantial figure of €2.8 million gross could be reinvested elsewhere for a roster that is quite different from last season’s.

But will Virtus Bologna demand a buyout? Today’s print edition of Repubblica speaks of an ongoing negotiation, while Corriere di Bologna specifies that Shengelia’s agent (Octagon Europe) “is in contact with both clubs” but without making “a transfer request nor the player’s intention to pay out of his own pocket to free himself from the contract expiring in 2024”.

Italian newspaper nonetheless foresees the green light for Shengelia to play in Athens next season, but with a buyout: “much higher than the 500,000 euros circulating in rumors in the past few hours,” although: “the figures are far from the speculated one million euros that would satisfy Segafredo. Otherwise, the club has made it known, there are contracts and they are to be respected.”