The first stadium ever built in this spot was the Neo Phaliron Velodrome, which was used in the Olympic Games of 1896. In 1964 it was reconstructed, turned into a football field and it was named "Georgios Karaiskakis" after the military commander and hero of the Greek War of Independence 1821.
In 2003 the new "Georgios Karaiskakis" was built in order to be used for football matches of the Olympic Games of 2004. It can host up to 33.334 people and has VIP rooms, boxes for journalists, 4 changing rooms for the teams, and all modern facilities that every European stadium has.
After the Olympic Games where finished, the stadium was given to Olympiakos FC for 49 years while at the same time it is the stadium that is used by the National team of men and women use for many of their matches. The museum of Olympiakos FC is housed also in the stadium. It was inaugurated on the 14th of May 2006 and hosts items and exhibits that compose a picture of the history of the team since its foundation in 1925.
All means of transport are reaching Karaiskakis, while it is located approximately 3 km away from the center of Piraeus, 10 km from the center of Athens, and 32 km away from the airport of El. Venizelos.