Vesko Mihajlović was hired for the last 7 games of the season, with only one win and the club relegated for the fifth time, with 3 games remaining, Vesko Mihajlović resigned and captain Kyriacos Polykarpou took over as caretaker manager, until the end of the season. The debt to old players was reduced to 125,000 euro and the total legacy debt to below 600,000 euro. In the 2018–2019 season Costas Seraphim remained president and was backed by the old president of the glory days of the early 2000s, Christopher Tornaritis, as head of the football department. Their first move is to hire Costas Malekkos as manager, with a view of returning to the top flight immediately. After two successive defeats in the first two games of the new season, Malekkos was replaced by Fangio Buyse who brought consecutive wins and the club was in first place after 11 games. Four games before the end of the season the club dropped to third place outside the promotion spots and Buyse was replaced by Kyriacos Polycarpou, an old player of the club, as caretaker manager, who lifted the club to second place and promotion. The debt was stabilised. Stability Regained In the 2019–2020 season Seraphim and Tornaritis, with the club returning to the First Division, re- hired Pambos Christodoulou as manager. Pambos renewed the contracts of central defender Nani Soares from Guinea-Bissau, Cypriot defensive midfielder Andreas Pachipis, Portuguese winger Rogerio Silva, defensive midfielder Evgenios Antoniou, Venezuelan forward Jose Romo and Cypriot left back Constantinos Samaras. The latter three were subsequently loaned to other clubs. His first signings were Cypriot right back Paris Psaltis, Cameroonian defensive midfielder Eyong Enoh, central defender Sambinha from Guinea-Bissau, Cypriot defensive midfielder Giorgos Economides, goalkeepers Pavol Bajza from Slovakia and Mario Kirev from Bulgaria, Portuguese left back Kiko, Cameroonian winger Fabrice Kah, Cypriot defensive midfielder Evangelos Kyriacou, Cypriot Striker Panayiotis Zachariou, Venezuelan midfielder Rafael Acosta, Brazilian Forward Azulão and Ghanaian centre back Ousmane Sidibé. The season was abandoned due to the COVID-19 pandemic in Cyprus and Olympiakos achieved the 9th place, securing participation regarding the next season's First Division. During June 2020, the director of football hired Greek Giannis Petrakis as the new head coach for the new season. The contracts of Guinea-Bissauan central defenders Sambinha and Nani Soares were renewed, as well as Cameroonian winger Fabrice Kah. Cypriot right backs Paris Psaltis and Evangelos Kyriacou stayed at