In summer of 2007 many players left the club including Igor Bišćan and Víctor Sánchez who hadn't fulfilled the expectations of Panathinaikos' fans with their performance.

On the other end the return of Giorgos Karagounis after four years pulled the spotlight and considered one of the most important signings of the 2007 summer transfer window.

Panathinaikos also signed Brazilian midfielder Marcelo Mattos from Corinthians, Dame N'Doye from Academica, Josu Sarriegi from Athletic Bilbao and some other players to help the team win its first championship in four years and celebrate the club's centesimal anniversary in the most appropriate way.

Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.

Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.