Olympiacos take over Peace and Friendship Stadium for next 50 years / News - Basketnews.com

As part of the process, the venue will be renovated. Olympiacos will control the Peace and Friendship Stadium for the next 50 years.

Credit: Olympiacos BC Credit Olympiacos BC

Following the second consecutive Greek League (ESAKE) title win, Olympiacos Piraeus fans were greeted with great news.

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In an interview with Gazzetta.gr's Kostas Melayes after the title celebration, Olympiacos general manager Nikos Lepeniotis announced that the organization will be taking over the Peace and Friendship Stadium for the next 50 years.

"We've been discussing the stadium all the time, the presidents had personally taken up the issue and now we are moving into a new era," he said. "It was something that Olympiacos as an organization was entitled to and deserved. There is nothing more suitable than the Peace and Friendship Stadium to be the home of Olympiacos for the next 50 years."

Previously, the venue belonged to the Greek state with the club renting it for the games.

As part of the process, the venue will be renovated to ultimately become more suitable for basketball games. As of now, there is a considerable amount of free space in the venue due to its original design back in the 1980s.

"There will be some work done related to the interior and exterior of the stadium. We'll build a new VIP Lounge which will be more suitable for the European teams, we'll improve the positions on the court seats, and we'll increase the capacity," Lepeniotis told. "Externally, the doors need some improvements. Some technical improvements will be made to improve attendance and people's enjoyment."

However, the process of moving the fans closer to the court will not be completed during the upcoming offseason, he says.

"It will definitely happen at some point but it won't happen this summer and it won't take effect from this year," Lepeniotis told. "The aim is to increase the capacity of the stadium. Reaching all 15,000 seats is something that's possible. Soon, the stands will be closer and the headquarters will be even stronger."

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