The Karaiskakis Stadium is located in Piraeus in the metropolitan area of Athens and was originally built as an open-air velodrome in time for the first modern Summer Olympics in Athens in 1896. Minor renovations took place in the 1960s. The current tenant Olympiacos first moved into the stadium from 1925 to 1984, then from 1989 to 1997 and then moved back in after the complete renovation from 2004 to the present day.
The original stadium also suffered from the Gate 7 tragedy on February 8, 1981, an incident commonly known as the Karaiskaki Stadium disaster. As a reminder, in the Gate 7 section, 21 seats are colored black instead of red, forming the number 7.
The remodeled stadium reopened in 2004 in time to host some of the football competitions during the 2004 Summer Olympic and Paralympic Games. With a total seating capacity of 33,296, the stadium has been awarded 5-star status by UEFA.
The conversion includes single-tier grandstands on three sides of the stadium, with one side having 40 VIP lounges and suites for up to 472 people, a press conference hall with up to 130 seats and 200 seats for the press and media, a shopping mall with restaurants, Cafes, retail and clothing stores, as well as a gym and a museum dedicated to the history of Olympiakos.
The stadium was rotated and oriented in a different direction than the original stadium. It also received a completely new roof, which is supported by 14 cantilevered columns. The stadium was built in a record 14 months. Olympiacos leased the stadium until 2052. The Greek national football team plays most of their home games here rather than at the much larger Athens Olympic Stadium.