The Greek Olympic Committee’s unanimous “yes” vote paved the way for the next and decisive stage of the plan to upgrade the “G. Karaiskakis” Stadium. The process now moves to Parliament, where the necessary legislation is expected to be debated and voted on by the end of the month.

The Hellenic Olympic Committee (EOE) has authorized its president, Isidoros Kouvelos, to attend the relevant session and give his consent to the legislation. He is expected to be joined by Secretary General Antonis Chandakas and Vice President Stelios Angeloudis, who will represent the Committee during the proceedings.

The new provision will regulate, among other things, the permitted height of the stadium, which is set to increase from 40 to 52 meters to allow for the construction of a second tier. The new “G. Karaiskakis” stadium is planned to have a capacity of approximately 53,000 spectators, with the total investment estimated at 250 million euros and to be covered by private funds.

Once the legislation is passed, formal discussions will follow between the Hellenic Olympic Committee (EOE) and Olympiacos’ management regarding the stadium concession agreement. This agreement will also specify the annual rent to be paid by the “red-and-white” soccer club, which will retain the right to use the stadium for another 49 years.

According to the plan, construction is expected to begin after the end of the next season. The goal is for Olympiacos to return to the fully upgraded “G. Karaiskakis” Stadium in the summer of 2029, to a larger, modern stadium adapted to new requirements.

*photo source: Olympiacos FC