Panathinaikos have added another piece to their summer rebuild. Elmin Rastoder, the 24-year-old striker from North Macedonia, completed his medical in Athens and formally signed with the Greek club on June 30, 2026.

The fee landed at €3.5 million, slightly below Rastoder’s market valuation of approximately €4 million.

The deal, broken down

Rastoder arrives from FC Thun, where he had been based since July 2024 after a loan spell at Vaduz. His four-year contract ties him to Panathinaikos through the 2030 horizon. Panathinaikos finalized the transfer just before the close of June, and Rastoder is expected to join his new teammates at their pre-season training camp in Apeldoorn, Netherlands, on June 30. Negotiations are reported to have taken shape around June 25 and 26, meaning the club moved quickly once the framework was agreed.

Who is Elmin Rastoder?

Rastoder is a striker who built his reputation in the lower tiers of European football before FC Thun gave him a more prominent platform in Switzerland. His time at Vaduz on loan was a stepping stone, and his subsequent permanent move to Thun in the summer of 2024 suggested clubs were beginning to bet real money on his potential.

At 24, he sits in that ideal window for a club like Panathinaikos: old enough to contribute immediately, young enough to appreciate in value. The €4 million market valuation reflects a player on an upward curve, not one who has peaked.

What this means going forward

Panathinaikos paid below market rate for a player whose valuation is still climbing, locked him into a long contract, and secured him in time for pre-season. A four-year contract on a player valued at €4 million, purchased for €3.5 million, gives Panathinaikos significant leverage in any future negotiation.

The Apeldoorn training camp is significant context here. Rastoder arriving on day one of camp, rather than joining mid-way through, puts him in the best possible position ahead of competitive fixtures.