March 6th, 2003

Olympiakos FC have been granted exclusive use of KARAISKAKI STADIUM for the next 49 years, after the passing of the relevant bill in the Parliament yesterday. The two major parties (ruling PASOK and New Democracy) voted for, while two smaller left-wing parties were against. All this now means that the road is finally open for the reconstruction of the Piraeus stadium that will host games of the Olympic football tournament in 2004 (including the finals).

Giorgos Lianis, the Minister of Sports, stressed that the State would not pay a single Euro for the reconstruction of the stadium. The full amount of 50 million is to be paid by Olympiakos. He also noted that the club would pay to the State 15% of all revenues from the use of the stadium. Olympiakos will also be solely responsible for the maintenance of the ground and are obliged to return it to its owners (the Greek Olympic Committee) after 49 years.

Works are now expected to commence within the next month, starting with the demolition of the existing stadium. The new (football-only) ground is scheduled to be ready by June 2004.

Relevant articles:
FIFA say Karaiskaki is only suitable venue for Olympics (10/12/02)
Government intervention puts Karaiskaki case back on track (16/11/02)
Olympiakos say they give up trying for Karaiskaki (13/11/02)
Cabinet meeting over new stadia of the Athens "big 3" (22/9/02)
Olympiakos return home in football and basketball (24/2/02)
Karaiskaki Stadium will host the football final in the 2004 Olympics (23/01/02)
Olympiakos look set to return once again to Karaiskaki (2/10/01)
Olympiakos abandon Karaiskaki and will build new stadium (31/8/01)