In the 2004–05 season, Olympiacos marked their 46th consecutive year in the Alpha Ethniki and 79th year as a club. They competed in the UEFA Champions League for the 8th straight season. Trond Sollied was appointed coach in the summer, but Dušan Bajević is also listed as manager. Olympiacos won the Alpha Ethniki and the Greek Cup, reached the Champions League group stage, and made it to the UEFA Cup Round of 16.
Rivaldo was the top scorer with 12 league goals and 15 in all competitions.
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