Rajgelj, who already led Olimpija in 2007 and 2008 and returned in the summer of 2010, was replace only a few months early, allegedly due to differences of opinion with the club's president Jani Möderndorfer and his supporters.

Olimpija, which was on the verge of financial collapse before the 2010/11 season, recovered slightly with a good Euroleague performance. This was not followed up in 2011/12, when the club struggled to meet the financial obligations to some of the players.

A return to better times was announced today by Subotić, who was the coach of the Slovenian national team between 2001 and 2003 and was also active as a coach and club director in Greece.

"I am happy to be returning after 25 year to the club that formed me as a player and later a coach," he told the press, saying that Olimpija like many other clubs in Europe has been in crisis in the last few years.

He however feels that the large number of good players presently available for much less money than only a few years ago will make Olimpija's comeback possible without large sums. Subotić said that many good players had contacted him in the past year to ask him for help in finding a team.

"Olimpija's reputation suffered a lot in the last years because of all the problems, but Union Olimpija is a basketball institution, a synonym for basketball in Slovenia, which is why it needs to be brought back to where it once was," Subotić said.

The press was also addressed today by Möderndorfer, who however failed to disclose the club's debt or even an approximate budget for the next season