 Spanoulis won the Greek League's 2009–10 season championship, with Panathinaikos.In July 2010, after much speculation concerning his free agency and his next contract, Spanoulis signed a three-year contract with the Greek Basket League club Olympiacos Piraeus, worth euros gross income, or euros net income (€2.4 million net income per season), plus team performance bonuses.In his first year with Olympiacos, Spanoulis won the Greek Cup, was named to the EuroLeague's All Second Team, and was the Greek Basket League assists leader.