Absolute domination

Olympiacos' era of domination began with attracting players of international magnitude like Zlatko Zahovič, Giovanni, and World Champions Rivaldo and Christian Karembeu. Olympiacos won seven consecutive championships, beating their own past record of six, with their best season being 1998-99, when they celebrated the Double and their qualification to the quarterfinals of the UEFA Champions League, their best-ever European campaign. However the neutrality of the refereeies was strongly disputed, altought no case gone to justice .In this period Olympiakos employed more than eleven coaches. The best-known are Ioannis Matzourakis, Takis Lemonis, Trond Sollied, Oleg Protasov, Siniša Gogić and Nikos Alefantos.

Despite constant management changes, Olympiacos kept on winning championships, except for the season 2003–04, when they finished second after switching three coaches in a year. Olympiacos rehired Dušan Bajević and transferred 1999 World Footballer of the Year Rivaldo. The end of the season found Olympiacos with both domestic trophies but without Bajević, who resigned; in his place, Trond Sollied was hired. They also signed arch-rival Panathinaikos' striker Michalis Konstantinou. During the season 2005–06, Olympiacos won all the four derbies against their major rivals, Panathinaikos and AEK Athens, something only achieved once more, during the season 1972–73. The combined goal total in these four matches was 11-3 in favour of Olympiacos. They also beat AEK Athens 3-0 in the Greek Cup Final to clinch their second straight double and managed to win 16 consecutive matches in the championship, breaking their own record.In all these years Olympiakos received favorable referring known as Paragka which helped the team dominate the league.

After a record-breaking season, in the 2006 summer transfers, Trond Sollied signed seven players. However, Sollied did not live up to expectations in the UEFA Champions League 2006–07 and was replaced by Takis Lemonis at the end of 2006. Lemonis transferred the young star Vasilis Torosidis, and though Lemonis won the third consecutive championship for Olympiacos, he didn't win the Greek Cup after a surprise elimination by PAS Giannina.

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