European Powerhouses Reveal Ambitious £215 Million Project for New 53,000-Seat Stadium, Two Decades in the Making!

OLYMPIACOS have unveiled plans for a brand-spanking-new stadium, which has been in the making for over two decades.

The Greek giants have been playing their at the Georgios Karaiskakis Stadium for the last 130 YEARS.

Olympiacos play their football at the Georgios Karaiskakis Stadium Credit: PA Archive The Greek giants have unveiled plans to revamp their home Credit: OLYMPIACOS

It underwent two renovations in 1964 and 2004, with the latter taking it’s capacity to 33,334.

But owner has unveiled plans for a brand new 53,000-seater ground, which will cost £214MILLION to build.

In an address at the Municipal Theater in Piraeus on Thursday, he said: “Today is a historic day for our Olympic!

“It is a historic day, both for the city that gave birth to the legend of sports, our Piraeus, but also for Greece.

“Today we will present to you the largest project ever presented in the history of Greek Football, a unique project for which no state resources were requested, were not given and will not be given, and no Greek taxpayer will be burdened.

“Unfortunately, however, the government has delayed us and I don’t understand why, since I repeat that we are not asking the state for even half a euro!

“In contrast to what happened with other stadiums, which were not delayed and were given as property, to private businesses with express procedures! Stadiums that were paid for in part or in full by the Greek taxpayer, the Greek people.

“I would like to inform you that from our side, millions of euros have already been spent on studies and preparation, and we are fully prepared for the construction part, just as the large construction company that has undertaken the project is also ready and already working.

The proposed renovation will cost £214million Credit: OLYMPIACOS Owner Evangelos Marinakis revealed the club’s grand plans to renovate the ground this week Credit: Getty

“We are requesting a regulation regarding height from September 2025, and if we had it, we would already have a building permit.

“We also request a time extension of the contract with the Hellenic Olympic Committee to which we will voluntarily offer a large financial compensation.

“If we had the arrangement, we would start this year in May and could enter the field in August 2028. A year has already been lost for no reason.

“The project, which will cost more than 250 million euros, will be financed by Olympiacos and me personally and will be the theatre of our dreams, which will be open 365 days a year!”

The Karaiskakis faithful were quick to react to the propsosal, with one saying on X: “Proud of this Olympiacos.”

Another said: “EPICOOOOOOO.”

And another said: “Our dreams are becoming reality before our very eyes.”

One remarked: “A jewel, a diamond, the best stadium in the country for our Olympiacos!!”

Another chimed in: “Closer and closer to an Olympic state worthy of the biggest club in the country and one of the biggest in the world.”