Cyprus striker Konstantinou opts for Olympiacos

Cypriot international Michael Konstantinou has left Greek club Panathinaikos to join their arch-rivals Olympiakos of Pireas.

Konstantinou, whose contract with Panathinaikos expired on 1 July, has moved across Athens and signed a three-year contract worth a reported 800,000 euros a year.

The 27-year-old, who was a target of German sides Hamburg and Cologne, is the second player in the past 12 months to join Olympiacos from Panathinaikos, following in the footsteps of Greece goalkeeper Antonis Nikopolidis.