The “green light” has been given for the development of a new, state-of-the-art Georgios Karaiskakis Stadium, following Tuesday’s meeting between Olympiacos FC president Evangelos Marinakis and Greek Prime Minister Kyriakos Mitsotakis at the latter’s Maximos Mansion office.
The landmark project, which is being financed entirely by the club and its owner, is expected to cost more than 250 million euros. The government has pledged to move swiftly with legislative measures required to clear the way for construction.
A 53,000-seat ‘football palace’
The four-level stadium will rise to more than 52 meters and feature a 30,000-square-meter bioclimatic roof. Its design incorporates 32 escalators, 60 elevators, 20 double staircases and 70 access gates, intended to facilitate the rapid movement of spectators throughout the venue.
The project also envisages extensive improvements around the stadium, including traffic interventions and thousands of parking spaces to ease access on matchdays.
The meeting was also attended by Piraeus Mayor Yannis Moralis and senior government officials, including Environment and Energy Minister Stavros Papastavrou, the Deputy Minister to the Prime Minister Giorgos Mylonakis, Deputy Minister to the Prime Minister and government spokesman Pavlos Marinakis, and Secretary-General to the Prime Minister Stelios Koutnatzis.
The high-level government representation underlined the importance attached to moving the project forward quickly and removing the regulatory and bureaucratic obstacles standing in its way.
The new stadium is planned to become Greece’s largest football-specific venue, with capacity exceeding 53,000 spectators. The proposal was unveiled by Marinakis in Piraeus in July, when he described the privately funded development as a transformative investment for both Olympiacos and the port city.
Beyond football, the complex is designed to operate as a year-round destination, with 5,000 square meters dedicated to restaurants, cafes and retail spaces.
The club has said the new venue could also enable Greece to host major European sporting events, while addressing the growing demand generated by Olympiacos’ consistently strong attendances. Marinakis has previously said he hopes the stadium could be completed within three years of the necessary legislation being approved.
Europe-scale technology and hospitality
Technology is also central to the design, as the stadium is expected to feature 10,000 square meters of LED displays, described as the largest multi-faceted sports display of its kind in Europe.
The venue will also include advanced broadcasting infrastructure, high-end sound and lighting systems, renewable-energy installations and two high-tech control rooms.
More than 100 luxury suites and over 5,000 square meters of premium hospitality areas are planned for corporate and VIP guests.
The project places particular emphasis on media facilities, with a 2,000-square-meter Media Center featuring 320 seats, an auditorium and a further 1,000 square meters of dedicated workspace for journalists.
The development would represent a major expansion of Olympiacos’ existing home, which has been at the center of the club’s identity in Piraeus. The current stadium has also hosted initiatives extending beyond football, including educational and cultural programs aimed at the city’s youth.
With these specifications, Olympiacos’ new stadium is set to become a modern landmark of sport and culture, firmly positioning Greece at the center of international sporting interest.
