Olympiacos has unveiled plans for a new Georgios Karaiskakis Stadium in Piraeus, a privately funded project worth more than €250 million ($286 million) that would create the largest football stadium in Greece.
The proposal, presented Thursday at the Piraeus Municipal Theatre, would transform the club’s historic home into a state-of-the-art venue with capacity for more than 53,000 spectators. The figure exceeds earlier references to a 50,000-seat stadium and reflects Olympiacos’ effort to meet growing demand from supporters.
The new Karaiskakis Stadium would rise across four levels to more than 52 meters (170 ft) and feature expanded seating, modern hospitality areas, advanced technology, and infrastructure capable of hosting major sporting and cultural events.
Olympiacos’ privately funded stadium project in Greece
Olympiacos FC and its owner will finance the stadium entirely without public funding. The investment will exceed €250 million ($286 million), making it one of the most ambitious private sports infrastructure projects proposed in Greece.
The plan also forms part of a broader upgrade for Piraeus. In addition to the stadium reconstruction, the project includes transport and access improvements around the waterfront, traffic-management measures, and thousands of parking spaces designed to ease movement before and after matches.
Οι πρώτες εικόνες του «Νέου Σταδίου Γ. Καραϊσκάκης»!
The first images of the “New G. Karaiskakis Stadium”!
#OlympiacosFC #Marinakis #Piraeus #Greece pic.twitter.com/4BQGNaeZfE— Olympiacos FC (@olympiacosfc) July 2, 2026
What the new Karaiskakis stadium will include
The proposed venue would feature more than 53,000 seats, making it the largest football stadium in Greece. Plans also call for a 30,000-square-meter bioclimatic roof, more than 100 luxury suites, over 5,000 square meters of premium hospitality space, and an additional 5,000 square meters dedicated to restaurants, cafés, concessions, and fan amenities.
Designed with both comfort and efficiency in mind, the four-level stadium would prioritize seamless spectator movement. The layout includes 32 escalators, 60 elevators, 20 double staircases, and 70 entry gates to improve circulation and minimize congestion on event days. The complex would also house a 2,000-square-meter media center featuring a 320-seat auditorium, complemented by 1,000 square meters of dedicated workspace for journalists, broadcasters, and event operations.
Technology is another defining feature of the proposed stadium. Plans include 10,000 square meters of LED displays, which Olympiacos says would create Europe’s largest multi-faceted digital screen for football matches and cultural events. The venue would also incorporate state-of-the-art broadcasting infrastructure, advanced audio and lighting systems, renewable energy technologies, and two high-tech control centers to support match-day operations and large-scale entertainment events.
Olympiacos awaits approval before stadium construction begins
The main issue still pending involves a legislative adjustment that would allow the stadium to reach a height of roughly 52 to 53 meters. This approval remains the key step before construction can begin, according to Olympiacos representatives, who added that construction could have begun in May if the legal framework had already been in place. If the remaining regulatory issues move forward promptly, the stadium could open to the public by August 2028.
During construction, Olympiacos expects to play its home matches at the Athens Olympic Stadium, known as OAKA, for approximately two seasons. The club considers OAKA the only suitable temporary venue because of its capacity and ability to accommodate the team’s supporters.
Stadium marks a historic moment for Greece, Marinakis says
Evangelos Marinakis described the presentation as a historic day for Olympiacos, Piraeus, and Greece, saying the new stadium reflects his long-term goal of making the club financially self-sufficient and competitive among Europe’s elite.
He pointed to Olympiacos’ recent UEFA Europa Conference League triumph, the club’s UEFA Youth League title, and what he described as three hundred trophies across all sports over the past sixteen years. He also praised the club’s academy, citing captain Panagiotis Retsos as a homegrown player who moved to Bayer Leverkusen before returning to help Olympiacos win its first European trophy.
Marinakis hopes the club’s “next meeting” with fans will take place within the newly inaugurated Georgios Karaiskakis Stadium, which he described as “our own theater of dreams” in about three years.
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