EXCLUSIVE: Neestrup in for tough task at fallen giants Panathinaikos, says Greek expert

Benitez arrived in October 2025 as the highest-paid manager in Greek football history, but his time in the hot seat lasted just seven months before owner Giannis Alafouzos decided to terminate his contract.

Panathinaikos finished fourth in the Greek Super League, no less than 20 points behind champions AEK Athens, which meant that the Greek giants, who have won the championship 20 times, missed out on the Europa League play-offs and were demoted to the UEFA Conference League qualifiers for the upcoming season.

The final straw for the club hierarchy was a 2-0 defeat to arch-rivals Olympiacos in April, a disappointment which was compounded by a devastating 4-0 loss to AEK, which prompted club owners to sack the former Liverpool boss.

Jacob Neestrup now arrives in the capital with the challenge of steadying the ship at a club that hasn't won the title in 16 years in a league seemingly eternally mired in turmoil, as Greek football appears haunted by corruption, massive spectator violence, dubious refereeing decisions, and erratic owners.

It's a tall order for a man who was hailed as a saviour when he arrived at FC Copenhagen four years ago and managed to win two Danish championships, two Danish Cup titles, and led 'The Lions' to the Round of 16 in the Champions League in the 2023/24 season. Neestrup, however, ran out of steam and was sacked on the back of a disappointing season in which Copenhagen failed to qualify for the domestic championship play-offs.

Flashscore spoke to Greek expert Konstantinos Lianos, who provides punditry and commentary for BBC Sport and Sky Sports, about what kind of challenges await Neestrup at Panathinaikos.

What state is Panathinaikos in at the moment?

"Panathinaikos has been in a difficult state since 2011, when the Vardinogiannis family was ousted, and the multi-shareholding initiative went up in flames. Panathinaikos finally found an identity under Ivan Jovanovic (currently Greek national team coach) between 2021 and 2023, after they also had decent spells under legendary club players Giorgos Donis and Marinos Ouzounidis."

"But the erratic nature of owner Giannis Alafouzos led to an end to his reign as he opted for past glories like Fatih Terim and Rafa Benitez, who both proved to be great flops. Jacob Neestrup will have his hands full, and not a lot of people expect much from him after Benitez’s sacking."

What will be Neestrup's biggest challenges?

"Neestrup is facing many challenges. He needs to win over the demanding and strict Panathinaikos fan base with exciting football and, more importantly, results! Panathinaikos have not won a league title since 2010 and haven’t played in the Champions League in 16 years. That’s after decades of European glory, and Neestrup will be Panathinaikos’ 10th manager in the last 10 years (not counting caretaker bosses)."

"Owner Giannis Alafouzos - just like many Greek owners - changes managers like t-shirts. Even legends like Fatih Terim and Rafa Benitez didn’t get to coach for a year. Neestrup needs to implement a clear identity and a style of play that was clearly absent under Benitez and frustrated players. He has to find a core group of players that can carry out his philosophy on the pitch and deal with the erratic nature of Alafouzos."

How do you see his chances of success at Panathinaikos?

"No one expects much from Neestrup after the likes of Rafa Benitez and Fatih Terim, as well as Rui Vitoria, failed. Fans say he won’t even make it to the 28 October bank holiday, which is a standing joke every time a new manager joins one of the big four during the summer (Olympiacos, Panathinaikos, AEK, and PAOK). But the fact is that the Greeks know very little of Neestrup, and the same feeling existed regarding Giorgos Donis and Ivan Jovanovic, who both did a smashing job.

"If Neestrup puts together the type of squad that suits him and gets his preferred transfers, which is very difficult in Greece with erratic owners looking to impress the fans and convince them to buy season tickets, then he has a great chance.  But he will also need time, and patience is a word not often found in Greek football dictionaries."

Where did it go wrong for Rafa Benitez?

"Sources told me Benitez failed to win over the locker room, and players were frustrated with his methods. Players were not happy with pre-match preparations due to a lack of tactical analysis to help them get organised for their upcoming opponent.  Under Benitez, Panathinaikos fell even more behind at the top of the table and struggled to find an identity on the pitch with the manager constantly changing formations.

"Benitez came close to the sack mid-season, but getting the team to the Europa League’s last 16 saved him. Giannis Alafouzos backed him a lot in the beginning and was in close contact with him, but they ultimately grew distant, with Panathinaikos finishing fourth in the league."

Panathinaikos is set to move into a brand-new stadium in the Votanikos neighbourhood of Athens for the 2027/28 season (The 40,000-seat venue will replace their ageing Apostolos Nikolaidis Stadium). Will this affect Neestrup's tenure?

"It could very likely. Giannis Alafouzos will want to commemorate the move with something big, and Jacob Neestrup will have to prove he’s the one who can lead this once great club into its new home. Many expect the club to return to its past glories upon that move. So, no doubt the move hasn't made Neestrup's job any easier."

The top-tier Greek Super League 2026/27 football season is scheduled to kick off on August 22nd. Panathinaikos will face Hungarian side Paksi FC in the first leg of the UEFA Conference League second qualifying round on Thursday, July 23rd, in their first competitive game of the new season.