Olympiacos reveals €250m private stadium plan, criticises government over height regulation delay
Olympiacos FC president Vangelis Marinakis presented plans for a new, privately funded 53,000-plus-seat Georgios Karaiskakis Stadium in Piraeus, while criticising the Greek government for delaying a height regulation that has pushed the project’s start to 2027.
Olympiacos president Vangelis Marinakis held a press conference at the Municipal Theatre of Piraeus on 2 July 2026 to present the club’s plans for a new stadium on the site of the existing Georgios Karaiskakis.
A stadium for the future
The new venue will be the largest football-only stadium in Greece, with a capacity exceeding 53,000. It is designed across four levels, topped by a 30,000-square-metre bioclimatic roof. Marinakis described the project as an investment in the club’s future and a necessary upgrade for a team that has outgrown its current home.
The current Karaiskakis can no longer accommodate our dream team. The new stadium will be our Theatre of Dreams.
Private funding and public friction
The entire project will cost more than €250 million and will be financed solely by Marinakis and Olympiacos, with no state funds requested. Piraeus Mayor Yiannis Moralis, speaking at the event, urged the government to act swiftly, saying the only thing required is a legislative change to the permitted building height.
The change of height is the only thing we ask from the government.
Marinakis accused the government of an incomprehensible delay. He revealed that a letter was sent in September 2025 requesting a regulation to raise the stadium’s maximum height from 40 metres to 52–54 metres. Without it, construction could not begin.
We don’t ask for a single euro from the state. The government has delayed us, and I don’t understand why. If we had the regulation, we would have started this May and could have entered the stadium in August 2028.
Facilities and fan experience
The plans detail a media centre of 2,000 square metres with a 320-seat amphitheatre, 1,000 square metres of workspaces, over 100 luxury suites, more than 5,000 square metres of premium hospitality areas, and 5,000 square metres for restaurants, cafes and kiosks. A total of 10,000 square metres of LED screens will form the largest polyhedral display in Europe. Movement inside the stadium is to be eased by 32 escalators, 60 lifts, 20 double staircases and 70 access gates.
Timeline and temporary home
- Letter sent to Greek government requesting regulation to increase permitted stadium height
- Original target construction start date missed due to unresolved height regulation
- Earliest possible start of construction works
- Projected completion and opening after approximately two years of construction (Olympiacos plays at OAKA in interim)
Because of the stalled height regulation, construction cannot now start before May 2027. The build is expected to take about two years, during which Olympiacos will play its home matches at the Athens Olympic Stadium (OAKA). The project aims to transform not only the club’s infrastructure but also to act as a development engine for the Piraeus region.
