Olympiacos president Evangelos Marinakis has revealed ambitious plans to transform Georgios Karaiskakis Stadium into the largest football venue in Greece, with capacity set to increase from 33,000 to more than 53,000 seats.
Describing the proposal as the most significant project ever presented in Greek football, Marinakis outlined a comprehensive redevelopment designed to create a modern, year-round destination for supporters and visitors.
The club has been seeking regulatory approval since September 2025 to amend restrictions related to the stadium’s height, while also negotiating an extension of its agreement with the Hellenic Olympic Committee, the current owner of the venue. In return, Olympiacos has offered substantial financial compensation.
According to Marinakis, millions of euros have already been invested in planning, design work and preliminary studies, leaving the club ready to begin construction immediately. He argued that, had the necessary approvals been granted earlier, building work could have started in May, allowing Olympiacos to move into the expanded stadium by August 2028.
“An entire year has already been lost for no reason,” Marinakis said.
The project is expected to cost more than €250 million and will be financed entirely by Olympiacos and Marinakis himself. Beyond matchdays, the redeveloped stadium is intended to operate throughout the year as a multifunctional entertainment and commercial hub.
Marinakis said the expansion reflects the club’s long-term ambitions on and off the pitch.
“Karaiskakis can no longer accommodate the Olympiacos we dream of seeing achieve even greater success in Greece and across Europe,” he said. “Our new home will have a capacity of more than 53,000 seats. It will be the largest and most modern football stadium in the country, a technological marvel of which Olympiacos, Piraeus and all of Greece will be proud.”
Olympiacos vice-president and Piraeus mayor Yiannis Moralis welcomed the development, noting that the city council had unanimously approved the urban planning adjustments required for the project to proceed.
If completed as planned, the new Karaiskakis Stadium is expected to open in 2028, marking a new chapter in the club’s history and potentially reshaping the landscape of Greek football infrastructure.