The club’s owner Evangelos Marinakis presented the new 53,000 capacity Georgios Karaiskakis Stadium during an official event held at the iconic Municipal Theatre of Piraeus.

The entire Olympiacos first-team squad was in attendance, alongside athletes representing the Club’s amateur sports departments, members of the women’s football team, and numerous distinguished guests.

Olympiacos already boast the largest football ground in Greece, with the current Georgios Karaiskakis Stadium seating 33,449.

The project, which Marinakis will personally fund along with Olympiacos, is expected to cost upwards of €250 million (£214 million).

Marinakis, who also owns Premier League club Nottingham Forest, said:

“It will become our theatre of dreams, and it will be open 365 days a year. 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.”

The Legend’s new home will be expanded and comprehensively modernised, becoming the club’s new shining asset.

This unique project will welcome more than 53,000 supporters at every match, providing the stage for new unforgettable moments as Olympiacos continues to pursue glory in Greece and across Europe, the club said.

Along with the vastly increased capacity, the new stadium is set to include a 2,000-square-metre media centre equipped with a 320-seat auditorium.

Another landmark element is 10,000 square metres of LED display screens, which will give itthe largest multi-faceted LED display system in Europe for football games along with other events.

Over 100 ultra-luxury hospitality suites will be installed along with more than 5,000 square metres of premium hospitality areas.

Marinakis has confirmed construction on the new stadium is ready to commence.

Yiannis Moralis, Vice President of Olympiacos FC and Mayor of Piraeus, said:

“Today is a great day for Olympiacos and a great day for our city of Piraeus. Just a few days ago, we had the pleasure of seeing the City Council unanimously approve Olympiacos’ request for the necessary urban planning adjustments that will allow the construction of the new Karaiskakis Stadium.

“Today, I would say, is an even greater and more exciting day, because we are about to see the vision that everyone has been waiting for—not only those gathered in this hall, but above all the millions of Olympiacos supporters in Piraeus, across Greece and around the world. I am certain we are about to witness something truly spectacular, something that will move everyone who loves football, and especially the people and supporters of Olympiacos.”

Images courtesy of Olympiacos