Evangelos Marinakis announces plans for new 53,000-seater stadium that will cost £214m

Jul 3, 2026 - 14:45

Olympiacos owner Evangelos Marinakis has unveiled plans to build the largest football stadium in Greece.

The new Georgios Karaiskakis Stadium will boast a capacity of over 53,000.

Distant view of Olympiacos' new stadium — Marinakis has declared the new stadium will be Olympiacos’ ‘theatre of dreams’

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

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

“It will become our theatre of dreams, and it will be open 365 days a year,” Marinakis, who also owns Premier League club Nottingham Forest, said.

“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.”

What are some features of Olympiacos’ new stadium?

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.

It means Olympiacos’ new ground will boast the largest multi-faceted LED display system in Europe for football games along with other events.

There will also be plenty of scope for those who want a premium experience during Olympiacos matches.

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.

The inside view of Olympiacos' new stadium — Olympiacos’ new ground will have state-of-the-art technology, including advanced broadcast, sound and lighting

A potential concert at Olympiacos' new stadium — The stadium won’t just be for football matches, with the potential for concerts and other cultural events

The current Georgios Karaiskakis Stadium has been in place since 2004.

In that time, Olympiacos have won a staggering 29 trophies, including the Conference League in 2024.

Unfortunately, Olympiacos could not add to their astonishing 48 Super League titles last term, finishing behind winners AEK Athens.

Big summer ahead for Mr Marinakis

Along with the construction of Olympiacos’ new ground, it is shaping up to be an incredibly busy summer for Marinakis.

He oversaw a staggering turn of events on Wednesday as Vitor Pereira was axed as Forest boss while Oliver Glasner has been lined up to replace him.

Forest elected to trigger the clause in Pereira’s contract which allowed either the club or the manager to terminate their partnership in June.

Evangelos Marinakis — Marinakis has never been too far from controversy throughout his time as Forest owner

But what made Forest’s actions all the more controversial was the fact they did it via email at 11:58pm on June 30, two minutes before the calendar ticked over to July.

As if that wasn’t enough to create a storm, Forest then appointed Glasner, who was previously in charge at Crystal Palace but left upon the expiry of his contract.

The two clubs do not, in simple terms, share a cordial relationship, with Forest benefiting from Palace’s demotion to the Conference League due to UEFA’s multi-club ownership rules having originally qualified for the Europa League.

Forest even wrote to UEFA to express their concerns regarding Palace’s situation, underlining the rocky relationship between the English clubs.