Olympiacos wins historic European crown, boosting Greek football

When Olympiacos Football Club lifted the UEFA Europa Conference League 2023‑24Prague trophy with a 1‑0 win over Fiorentina, Greece finally got its first major European silverware. The final, played on June 7, 2024, was more than a match—it was a statement that a club from the port city of Piraeus could compete with Europe’s elite.

Foundations of a Greek Giant

The roots of Olympiacos run deep. Established on March 10, 1925, the club emerged from a merger of two local teams, a decision steered by visionaries like Notis Kamperos, a senior Hellenic Navy officer who wanted a name that would embody strength and the Olympic ideal. He wasn’t alone; industrialist Michalis Manouskos helped flesh out the full title, Olympiakos Syndesmos Filathlon Peiraios. The Andrianopoulos family, led by patriarch Andreas Andrianopoulos, supplied many of the early players, cementing the club’s working‑class DNA.

Domestic Dominance

Fast forward a century, and Olympiacos has hoarded 48 league titles, 29 Greek Cups—including 19 doubles—and four Super Cups. That record makes the Red and Whites, as locals call them, the unequivocal king of Greek football. Their colors, red for passion and white for purity, were reportedly chosen by Yannis Andrianopoulos, echoing the ethos of fair competition.

European Journey: From Milan to Prague

The club’s first foray into Europe came on September 13, 1959, when they faced AC Milan in the European Cup. Fast‑forward to February 23, 2010, Olympiacos celebrated its 200th European match against Bordeaux in the Champions League knockout round. Yet none of those milestones compared to the night in Prague. Goal‑keeper Stefan Giuliano kept a clean sheet, while striker Youssef El-Arabi netted the decisive goal in the 73rd minute.

Behind the Trophy: Coaches, Players, and Strategy

Head coach Marco Silva praised his squad’s resilience: “We knew we were the underdogs, but the boys believed in the system from day one. The transition in the second half showed our depth.” Silva’s tactical tweak—switching to a 3‑5‑2 formation after conceding a free‑kick—mirrored the boldness of the 2013 team that added four stars to the club’s crest after the 40th championship.

Veteran midfielder Orestis Kokkinakis later reflected, “Winning in Prague feels like the culmination of every hard‑earned league title. It’s a gift to the fans who have waited 99 years for this moment.”

The Stadium Saga: Karaiskakis Reborn

The home ground, Georgios Karaiskakis Stadium, underwent a full reconstruction for the 2004 Olympics, becoming Greece’s first modern football‑specific arena. Yet ownership disputes linger. Olympiacos argues the stadium is rightfully theirs, citing a 2012 lease agreement, while critics claim the state gifted it without proper compensation. The controversy hasn’t dampened the fanbase; an estimated 60,000 supporters marched through Piraeus after the final, chanting “Thrylos — the legend lives on!”

Key Facts

• Founded: March 10, 1925, in Piraeus.
• European trophy: 2023‑24 UEFA Europa Conference League, 1‑0 vs. Fiorentina.
• Domestic record: 48 league titles, 29 Cups, 4 Super Cups.
• UEFA ranking (2024): 36th in ten‑year, 43rd in five‑year tables.
• Stadium capacity: 32,115 (all‑seated) after 2004 renovation.

Implications for Greek Football

The victory is a morale boost for a nation whose clubs have struggled to break the monopoly of the so‑called “big‑four” leagues. Financially, the €5.5 million prize money plus increased broadcasting revenue could help Olympiacos invest in youth academies, potentially narrowing the gap with Europe's giants. Moreover, the win may inspire other Super League clubs to aim higher, fostering a more competitive domestic environment.

What’s Next for Olympiacos?

With the Conference League title secured, the club now sets its sights on the 2024‑25 Champions League group stage. Preliminary draws place them in a tough pot, but the confidence from Prague could translate into deeper runs. Off the pitch, the stadium ownership talks are expected to head to arbitration by early 2025, a move that could finally settle the decades‑long dispute.

Frequently Asked Questions

How does this win affect Greek football overall?

The triumph gives Greek football its first major UEFA trophy, raising the league’s profile and attracting better sponsorship deals. It also provides a financial windfall—about €5.5 million in prize money—that Olympiacos can funnel into youth development, potentially raising the overall standard of play in Greece.

What were the decisive moments in the final against Fiorentina?

The match turned on the 73rd‑minute strike by Youssef El‑Arabi, who slipped past the defense after a swift counter‑attack. A crucial save by goalkeeper Stefan Giuliano in the 58th minute kept the lead intact, and a tactical shift to a three‑defender backline in the second half prevented Fiorentina from mounting any serious comeback.

Who were the standout performers throughout the tournament?

Besides El‑Arabi’s decisive goal, midfielder Orestis Kokkinakis provided leadership and a vital assist in the quarter‑final. Defender Konstantinos Tsimikas shone on the left flank, earning a Man‑of‑the‑Match award in the semi‑final, while Stefan Giuliano’s consistency between the sticks earned him the tournament’s Best Goalkeeper accolade.

What is Olympiacos' European record after the 2024 win?

The club now boasts 1 European trophy, 36 wins in UEFA competition, and over 200 matches played at the continental level. Their UEFA ten‑year coefficient rose to 36th place, a jump of nine spots from the previous season, positioning them favorably for future draws.

How will the stadium ownership dispute be resolved?

Both parties have agreed to submit the case to an independent arbitration panel in early 2025. If Olympiacos secures a favorable ruling, the club could gain full control of the Karaiskakis Stadium, potentially unlocking new revenue streams from concerts and non‑football events.