EC gives Panathinaikos €115m boost to begin build of new Athens stadium

May 18 – Greece’s Panathinaikos have been given the go-ahead to begin construction of the club’s new stadium in Votanikos, Athens.

The European Commission’s Directorate-General for Competition (DG COMP) approved finance of €115 million from the state investment fund for the stadium, which enables construction to begin immediately. The stadium is expected to be ready for use in 2026.

Adonis Georgiadis, minister of development and investments for Greece, thanked the European Commission and promised that the project will change the image of Athens.

Preparations for the construction of the stadium began in 2008, but in 2013 the project was stopped due to the club’s and the country’s financial troubles.

The new Panathinaikos Stadium will be a multi-use sports complex that will host all the teams within the Panathinaikos sports club. The complex will include a football stadium with 39,000 seats, volleyball, handball and basketball halls, swimming pool, gymnastic facilities and more.

Georgiadis said: “Today, the last pending issue for the signing of the contract for the start of the project of the double reconstruction and construction of the Panathinaikos stadium, in Votanikos, was resolved. I wish all the residents of Athens and especially the fans of Panathinaikos, in the coming years, to enjoy the new stadium of Panathinaikos, the construction of which we have finally managed to start.

“I congratulate the services of the Ministry of Development and Investments that handled the issue with the European Competition Commission, I thank the European Commission for the ‘Comfort Letter’ and we are moving forward to give Athens a very big project that will change the image of the city.”

Contact the writer of this story, Aleksander Krassimirov, at moc.l1718469584labto1718469584ofdlr1718469584owedi1718469584sni@o1718469584fni1718469584