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Texas forward Ioannis Papapetrou likely to decline Olympiacos offer, will return to Texas next week is reporting that the Olympiacos offer of 1.2 million Euros did not satisfy Papapetrou.

Cooper Neill

We have a new update to the Ioannis Papapetrou story we have been following here at Burnt Orange Nation, as Papapetrou has spent the last several weeks being wooed by Euroleague teams in Greece. is reporting that the rising Texas sophomore is likely to become an actual Texas sophomore. The 1.2 million Euro offer from Olympiacos, which was reported earlier this week to be the final offer by the club, will not draw Papapetrou away from college. With out a new effort from Olympiacos, the "matter will be closed permanently," according to the new report.

If this is all settled, reports that Papapetrou is set to return to the US next week.

From this side of the ocean, Kevin Flaherty of (and an all around good guy on Twitter) tweeted this on Monday:

This new information makes it seem increasingly unlikely that Texas will have to enter next season without its top four scorers from a season ago. With the return of Papapetrou, Texas will only be missing its top three scorers from last year.