State aid measure to restore Athens Olympic stadium approved
The Commission has approved a EUR 77 million Greek support to restore and modernise the main Olympic stadium of the Olympic Athletic Centre of Athens (OAKA).
The measure will support structural repairs to the stadium, including works on the steel roof, as well as upgrades to the electromechanical systems, lighting, and energy performance. The investment is financed under Greece’s National Recovery and Resilience Plan with support from the Recovery and Resilience Facility and national co-financing. It aims to ensure the safe and continued operation of this major public sports venue. The stadium will remain a multifunctional infrastructure hosting sporting, cultural and other public events.
The Commission concluded that the measure is (i) appropriate and (ii) necessary to ensure the continued safe operation of a major sports infrastructure of public interest, in light of a confirmed structural funding gap and the absence of viable private financing, and (iii) proportionate and (iv) limited to what is necessary to achieve the project’s objectives whilst any potential distortions of competition are limited. It therefore approved the aid on the basis of Article 107(3)(c) TFEU.
For more information, see the Commission´s PR.