Greek club Olympiacos has secured its largest-ever transfer fee, sending 18-year-old defender Babis Kostoulas to England's Brighton & Hove Albion for a guaranteed 35 million euros ($40.6 million), a figure that could rise to nearly 40 million euros ($46.4 million) with performance-based bonuses.
The deal, finalized Thursday after Mr. Kostoulas passed his medical examination, shatters the previous record for an outgoing transfer from a Greek club.
Brighton confirmed the signing, stating that Mr. Kostoulas has agreed to a five-year contract effective July 1.
The 35 million euro base fee surpasses the 20 million euros (approximately $23.2 million at current rates) that Wolverhampton Wanderers paid Olympiacos for Daniel Podence in 2020.
If all bonuses are met, the total package would exceed the 36 million euros (approximately $41.8 million) Napoli paid AS Roma for Kostas Manolas in 2019, making it the most expensive transfer involving a Greek player in history.
The move reunites Mr. Kostoulas with agent Georgios Panou, renowned for discovering NBA superstar Giannis Antetokounmpo in 2013.
Mr. Panou drew parallels between the two young talents, recognizing similar potential. "When I first saw Babis play three years ago in an under-19 game at age 15, I felt like when I first saw Giannis," Mr. Panou told the BBC.
"I immediately felt he was composed, hugely talented, with excellent body language, ready to face bigger players without pressure. I saw potential that could be developed."
Despite interest from other prominent clubs, including Chelsea, Mr. Panou stated that Brighton's approach was decisive in the transfer.
"They won over me and the family with how they speak, negotiate, provide all the tools for development, and have a great history developing young talent. We feel very comfortable, and I’m sure Babis will adapt quickly.
“For me, it was the only way ('monodromos')," Mr. Panou explained.
The transfer signals Brighton's continued strategy of investing in high-potential young players and marks a significant financial milestone for Greek football.
Mr. Kostoulas, a highly-regarded central defender, will join a Premier League club known for its successful player development pathway.