August 31st, 2001

After almost two years of uncertainty, it is final: Olympiakos are abandoning the project of
Karaiskaki Stadium. The club has faced many problems with the owners of the ground, the Greek Olympic Committee, mainly of financial nature. As a result, the works of modernizing the aging stadium have stopped for many months now, while Karaiskaki stands half-demolished.

Olympiakos always had the alternative of their own training facilities in the Rendi
area (not far from Piraeus) and the club president, Mr Socrates Kokkalis, made it clear on Wednesday: "Our new stadium will be built in RENDI. It will be ready in 18 months from now". Olympiakos plan to build a 40,000-seater stadium, a basketball arena (8,000-9,000) and a swimming complex with an olympic pool.

The fate of Karaiskaki Stadium is now unclear, however there are rumours that the whole project will eventually go through, using state funds.

Related article:

Panahaiki Stadium probable home for Olympiakos in 2002 (1/7/01)