Olympiacos has unveiled plans to modernise Stadio Georgios Karaiskakis, increasing its capacity from 33,505 to 53,000 seats. The project, worth more than €250 million, is set to be privately funded and would create the largest and most technologically advanced football stadium in Greece.

Stádio Georgios Karaiskakis redevelopment set to open a new chapter for Olympiacos

The project was presented at the Municipal Theatre of Piraeus, in what Olympiacos officials described as a landmark moment for both the club and Greek football. The event was attended by first-team players, representatives from the club's other sports sections and local authorities.

Olympiacos president Evangelos Marinakis said the Neo Karaiskaki project is the result of years of planning. According to him, the club already has completed technical documentation and a contractor ready to begin work, but administrative procedures and pending government approvals have delayed the investment. Marinakis argued that, had the necessary permits been granted earlier, construction could have started in 2026, with the new stadium opening in the summer of 2028.

Olympiacos stadium capacity to increase significantly

The most significant change will be the expansion of the stadium's capacity. Georgios Karaiskakis Stadium currently accommodates 33,505 spectators, but following the redevelopment the venue is expected to hold around 53,000 fans, making it the largest football stadium in Greece.

The expanded venue would allow Olympiacos to host domestic and European matches before significantly larger crowds while also making the stadium a potential home for Greece's national team and major international sporting events. The club believes the new stadium could become one of the most modern football venues in Southern Europe.

© Olympiacos FC | Olympiacos has presented the redevelopment project for Stádio Georgios Karaiskakis. The stadium’s capacity is set to increase from 33,505 to 53,000 seats and make it the largest football venue in Greece.

New Olympiacos stadium to become a modern venue operating 365 days a year

The redevelopment aims to create a stadium that meets the highest international standards. One of its most striking features will be more than 10,000 square metres of LED displays, which the club says would form the largest integrated LED system installed at any football stadium in Europe.

Plans also include a modern media centre covering around 2,000 square metres, complete with a 320-seat auditorium. Business partners and premium spectators will have access to more than 100 luxury suites and over 5,000 square metres of hospitality space. The stadium will also feature advanced sound, lighting and broadcast systems capable of supporting the world's biggest sporting events and live entertainment productions.

The vision extends well beyond football. Marinakis said the venue is intended to operate as a year-round entertainment destination, hosting concerts, cultural events, conferences and corporate functions. The goal is to generate revenue throughout the year while contributing to the economic development of Piraeus. The Olympiacos owner described the future stadium as a theatre of dreams for supporters and a symbol of the club's modern ambitions.

Olympiacos stadium redevelopment to be financed without taxpayers' money

One of the key aspects of the proposal is its financing model. Evangelos Marinakis repeatedly stressed that no public money would be used to build the stadium.

The project, valued at more than €250 million, will be financed entirely by Olympiacos and the club's owner. Marinakis said the only support expected from the state is the timely completion of administrative procedures, including approvals concerning the height of the new structure and the extension of the lease agreement with the Hellenic Olympic Committee. He also pointed out that, unlike several other stadium developments in Greece, the Olympiacos project does not require government funding.

© Olympiacos FC | Neo Karaiskaki is intended to become one of the most modern stadiums in Southern Europe. The project includes more than 10,000 m² of LED screens, expanded hospitality areas, a new media center and year-round use of the venue.

New stadium in Piraeus to transform the city while preserving the history of the legendary venue

The proposal has received a positive response from the authorities in Piraeus. Mayor Yiannis Moralis, who also serves as Olympiacos vice-president, said the redevelopment has the potential to transform the southern part of the Athens metropolitan area. City officials believe the stadium will become a new landmark for Piraeus, stimulate further investment and attract more international events and visitors. Moralis argued that the project would benefit not only Olympiacos but Greek sport as a whole by strengthening the country's position on the European sporting map.

Stádio Georgios Karaiskakis has been the home of Olympiacos since its complete reconstruction ahead of the 2004 Olympic Games. During that period, the club enjoyed the most successful era in its history, winning numerous Greek league titles and lifting the UEFA Europa Conference League trophy in 2024.

The new redevelopment aims to preserve the stadium's historic identity while adapting it to the demands of modern football. Club officials insist the venue will remain a symbol of Olympiacos and its supporters while offering a completely new level of comfort, technology and functionality.

If all the necessary administrative approvals are secured, construction is expected to begin within the next few years, paving the way for what would become Greece's largest and most technologically advanced football stadium.

© Olympiacos FC | The redevelopment of Olympiacos’ stadium is expected to cost more than €250 million and be financed without public money. The club is still waiting for administrative decisions that would allow construction to begin.