Olympiacos signs 49-year lease for Peace and Friendship Stadium

Olympiacos Basketball Club has secured a 49-year lease of the Peace and Friendship Stadium (SEF) in Piraeus, the Greek government announced on Monday.

The agreement mirrors a recent deal with Panathinaikos for use of the Olympic Stadium and marks a significant step in granting major clubs long-term control over key sports venues.

Under the terms, Olympiacos will contribute 30% of net revenue from leasing and commercial use of the stadium’s facilities and surrounding areas. The club will also fund the conversion of the venue from an athletics stadium into a dedicated basketball court.

Despite the lease, the state will remain responsible for the stadium’s energy upgrades and essential maintenance, according to the government’s statement.