With a history spanning three centuries, the Georgios Karaiskakis football stadium in Neon Faliron is a modern structure, serving the needs of the Greek National Team and football clubs from Piraeus. After the railway donated the land in 1895, a velodrome was constructed for the Athens Olympic Games of 1896 (it was known as the Velodrome until the mid-20th century).

Before the war, Piraeus football teams such as Olympiakos and Ethnikos used the Velodrome as a home field. It was renamed Karaiskaki Stadium after Georgios Karaiskakis, supreme commander of the Revolution of 1821, who fell in the battle of Faliron in 1827.

In 1964 the stadium was renovated, and could then host larger events like the Pan European Games of 1969 and the Europa League finals.

The stadium was completely rebuilt by the Olympiakos football club in 2004 for the Athens Olympic Games.