Familiar tale for Olympiacos

Greek powerhouse Olympiacos had seemingly set themselves up for a place in the last 16 of the champions league going into last night's final group game at home to Arsenal. All that was required was not to lose by two clear goals and they would seal their passage as group runners-up behind Bayern Munich. 

Olympiacos ended up on the wrong end of a 3-0 defeat. A hat-trick from Olivier Giroud put Olympiacos into the Europa League in a group that had started positively for the Piraeus side. The victory over Arsenal in matchday two had seemingly put them into the driving seat to finish 2nd behind Bayern but Arsenal's win over Bayern in matchday three set up the grand finale in matchday six. Arsenal chased and got the goals they needed and added a third for good measure which leaves Olympiacos in an all too familiar position. 

At home Olympiacos are dominant. They have the biggest budget in Greece and currently emphatically lead the Greek super league by thirteen points from second placed AEK Athens. However when it comes to European football their record isn't all that impressive. Bare a few campaigns here and there, they have struggled to replicate their domestic authority on Europe. 

Last night's champions league exit was their 10th group stage exit since 2000-01. On the three occasions they have made it past the group they exited in the last 16. 

Olympiacos are similar to Bayern in many ways. They are no longer judged on what they do at home as they are so dominant which means European football has become their bread and butter. The Erythrolefkoi (red and whites) as they are known will drop into the Europa League just like they did last season having finished 3rd in their group. 
The financial problems of their arch-rivals Panathinaikos and AEK Athens have contributed to their dominance but Olympiacos seem to face the same problem Celtic face in Scotland, not being severely tested week in, week out. The step up in quality just hasn't been made by the club on the pitch. They have a few decent players in Konstantinos Fortounis, Pajtim Kasami and the evergreen Esteban Cambiasso, to name just a few.  

For now the season rests on how well the club does in the Europa League. Last season when they dropped down into the competition they were eliminated in the Last 32 by eventual finalists Dnipro. A longer run would be just what the club needs after their latest champions league disappointment.