Neo Gipedo Panathinaikou – design description

How can the new Panathinaikos stadium project be summarized?

Panathinaikos is one of the most successful and recognizable football clubs in Greece. The team currently plays at its own ground, the so-called Leoforos, which – despite its unique character and emotional significance for supporters – is now too small and outdated.

For many years, efforts have been underway to provide the club with a modern stadium worthy of its history and stature in Greek football. Over time, various ideas were discussed, including both the modernization of the existing venue and the construction of an entirely new one in a different location.

Ultimately, a site in the Votanikos district was chosen – an area previously occupied by industrial facilities. Nearly two decades passed from the initial concept until early 2025, when foundation works finally began. The opening of the new stadium is planned for the start of the 2027/28 season.

Although the new venue will be a football-specific stadium, it is being built on a circular plan. With a capacity of 40,000 spectators, it will feature a dynamic, flowing form inspired by the home of FC Porto, Estádio do Dragão.

Why does Panathinaikos need a new stadium?

Panathinaikos, one of Greece’s largest and most decorated clubs, currently plays its home matches at the Apostolos Nikolaidis Stadium (Leoforos), the oldest football ground still in use in the country. For several seasons, the team also played at the Athens Olympic Stadium.

While the Olympic Stadium is far too large for the club’s everyday needs – and includes a running track that distances fans from the pitch – the historic Leoforos is, in turn, too cramped and outdated. Despite its distinctive atmosphere, it struggles to meet modern standards, particularly for international matches.

Discussions and planning for a new Panathinaikos stadium have been ongoing for many years, during which time the club’s two main rivals from Athens managed to complete their own modern arenas: Olympiacos with the new Karaiskakis Stadium (opened in 2004) and AEK with the OPAP Arena (inaugurated in 2022).

How did the concept of the new stadium in Votanikos come about?

Plans to build a new stadium for Panathinaikos date back to the 20th century, with the first serious proposals emerging after the team returned to the Apostolos Nikolaidis Stadium in 2000. At that time, one of the options considered was a complete reconstruction of the old venue – one proposal even called for rotating the pitch by 90 degrees, creating a sports hall beneath the playing surface, and adding an extensive commercial zone.

Another widely discussed alternative was the construction of a new stadium in an entirely different location. Areas such as Goudi, Elliniko, and several others were taken into consideration. Eventually, the Votanikos district – located a few kilometres west of central Athens – was chosen as the preferred site. The first memorandum between the club and the mayor of Athens was signed in August 2005.

The selected plot was an industrial area that had housed disused factories, warehouses, and a logistics center. In 2007, the nearby Eleonas metro station was opened, improving access to the district.

The city offered the land as part of its wider plan for urban revitalization. Panathinaikos was to receive it under a 99-year lease. In addition to the stadium, the club was to build indoor sports halls, an Olympic-size swimming pool, and other facilities serving its various athletic departments. In exchange, the municipality would take ownership of the Apostolos Nikolaidis Stadium site, which was to be transformed into a public park with an underground car park beneath it.

The concept for the new stadium in Votanikos was developed in 2006 by Portuguese architect Manuel Salgado, best known for designing Estádio do Dragão in Porto. The Panathinaikos design shares several architectural features with that venue. The detailed plans were later completed by Greek firm A&S Architects, and although the project evolved over the years, its final form remains broadly faithful to the original vision.

What does the Votanikos stadium concept include?

The stadium will accommodate around 40,000 spectators, with three tiers of seating along the sides and two behind the goals. Behind the stands, there will be up to eight levels of facilities, including as many as three underground levels (depending on the terrain), largely dedicated to parking areas.

The building will be constructed on a circular plan, featuring an elegant, dynamic architectural form. The stands will be fully covered by a continuous roof supported by four massive corner pillars.

Although the new stadium will primarily serve as the home of Panathinaikos FC, it will also be suitable for hosting other major events, including matches of the Greek national team.

When did the first works in Votanikos begin?

In 2007, the disused industrial facilities on the site were demolished. The development plans for the area also included the construction of a large shopping center, which was to be built independently of the stadium. Its construction began first but was soon halted after 132 residents filed a complaint – officially citing concern for local cormorants inhabiting the area. Although the court eventually dismissed the case, the project was never resumed, and the unfinished concrete frame of the abandoned mall remains visible to this day.

In 2009, earthworks for the stadium began, but the project soon came to a standstill due to the economic crisis and the collapse of the Greek economy. Reportedly, a Saudi prince had expressed interest in financing the construction, but that plan also fell through. Ultimately, in 2013, the entire vision was shelved, and by 2014 the focus had shifted to plans for a partial redevelopment of the old Leoforos stadium.

When will the new Panathinaikos stadium be built?

The idea of building a new stadium in Votanikos resurfaced in 2019. In November 2020, Panathinaikos was granted a 99-year lease on the land, while the municipality, the national government, and several banks signed a financing agreement for the project. A large share of the funding – €115 million – is being provided by a public investment fund for sports infrastructure development, with the remainder coming from the Recovery and Resilience Facility.

In March 2022, Panathinaikos members voted in favour of building the new stadium. The construction tender was launched on December 13, 2022, and the winning bid came from a consortium of GEK Terna, Ellaktor, and Mytilineos.

Construction officially began on April 6, 2023, followed by the contract signing on May 19. The contractor was given three years to complete the project. The contract value amounts to nearly €120 million, with an additional €3 million allocated for an optional corridor linking the stadium directly to the nearby metro station. The agreement also covers the construction of additional facilities, including a 3,100-seat indoor arena and an open-air Olympic-size swimming pool.

For a considerable time, only site preparation works were carried out. The main construction phase began on February 3, 2025 – coinciding with the 117th anniversary of Panathinaikos’ founding – with the start of foundation works. Due to the slow pace of the initial phase, the expected completion date was moved from 2026 to the beginning of the 2027/28 season.

A dedicated subpage provides ongoing coverage of the construction progress of the new Panathinaikos stadium