The GOC had wanted the club to take a 20-25-year lease on the OAKA stadium.
In addition, the GOC stipulated that Olympiakos pay for the refurbishment of the stadium and hand over half the commercial exploitation rights to the stadium interior.
Olympiakos is now planning to construct its own stadium on a site outside Athens.
The club says it also intends to float the company operating the club’s commercial arm on completion of the new build, scheduled for August 2003.
Leading Greek soccer club Olympiakos is planning to build a new stadium following the break down of talks with the club’s current stadium owners, the Greek Olympic Committee (GOC).
