Greek football club Olympiacos has unveiled plans for a €250 million redevelopment project to transform the Karaiskakis Stadium into a state-of-the-art 53,000-seat venue.
Olympiacos said construction is scheduled to begin in May 2027 and take two years, during which the team will temporarily relocate to the Olympic Stadium.
The ambitious upgrade of the stadium in the city of Piraeus near Athens is being spearheaded by club president Evangelos Marinakis and aims to modernize the facilities while significantly expanding the previous 33,000-seat capacity.
During the two-year construction period, Olympiacos is expected to temporarily play their home matches at the Olympic Stadium (OAKA).
Marinakis said, “It will become our theatre of dreams, and it will be open 365 days a year. It will be the largest and most modern football stadium in the country, a technological marvel of which Olympiacos, Piraeus, and all of Greece will be proud.”
Olympiacos Football Club, known simply as Olympiacos or Olympiacos Piraeus, are a Greek professional football club based in Piraeus. They are part of the major multi-sport club Olympiacos CFP.
Their home ground is the Karaiskakis Stadium, a 33,334-capacity stadium in Piraeus.
It underwent two renovations in 1964 and 2004, with the latter taking its capacity to 33,334.
Along with the vastly increased capacity, the next Olympiacos stadium redevelopment is set to include a 2,000-square-metre media centre equipped with a 320-seat auditorium.
Another landmark element is 10,000 square metres of LED display screens, which will give it the largest multi-faceted LED display system in Europe for football games along with other events.
Over 100 ultra-luxury hospitality suites will be built along with more than 5,000 square metres of premium hospitality areas.
Marinakis has confirmed construction on the Olympiacos stadium redevelopment is ready to commence.
Yiannis Moralis, Vice President of Olympiacos FC and Mayor of Piraeus, said, “Today is a great day for Olympiacos and a great day for our city of Piraeus. Just a few days ago, we had the pleasure of seeing the City Council unanimously approve Olympiacos’ request for the necessary urban planning adjustments that will allow the construction of the new Karaiskakis Stadium.
“Today, I would say, is an even greater and more exciting day, because we are about to see the vision that everyone has been waiting for—not only those gathered in this hall, but above all the millions of Olympiacos supporters in Piraeus, across Greece and around the world.
“I am certain we are about to witness something truly spectacular, something that will move everyone who loves football, and especially the people and supporters of Olympiacos.”
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