Olympiacos president Evangelos Marinakis has reportedly fined the entire first-team squad and ordered them to take a holiday with four matches of the Greek season remaining.
The businessman is said to have been so incensed by recent performances that he deemed it necessary to exile the senior squad until pre-season.
According to Eurosport, Olympiacos are expected to field youth players in the final four games of the Greek Superleague campaign.
"I will build Olympiacos from the beginning and it will become the team we are dreaming of. I and the rest of the fans have tolerated you enough. You will leave today and go on holiday," Marinakis is quoted as saying.
"The amateur teams live with the basics, they love Olympiacos and their supporters much more than you do.
"[You care more about] the nice houses you live in and your cars and don't care about the team.
"I pay millions for you to have everything. With your actions I fired three coaches. But at the end it looks like you were at fault."
Olympiacos could still mathematically win the league this season, heading into their final matches in second place, six points adrift of leaders AEK Athens.
