Omonia president presents plans for a new privately owned stadium

On June 12, 2026, Omonia president Stavros Papastavrou announced plans for the construction of a new privately owned stadium located outside Tseri, Cyprus. The project, estimated to cost between 100 and 120 million euros, will feature a capacity of 16,000 seats. Beyond the stadium, the development includes residential, commercial, office, and hotel spaces designed to make the project profitable. Papastavrou stated that the licensing process is expected to take two years, with construction completion anticipated within 1 to 1.5 years thereafter. He also revealed that he has invested over 20 million euros into the club to date, characterizing these funds as financial support rather than a traditional investment. During the interview with Alpha Cyprus, he emphasized that the project aims to improve the club's long-term competitive and financial standing. The club president further noted that he resides in Cyprus more frequently now to oversee team operations and described the experience as a significant life change compared to his time in the United States.