Olympiacos basketball gets initial approval for SEF stadium concession, gov't says

The government has reached an initial approval of a 49-year concession for the Peace and Friendship Stadium (SEF) to the baskeball division of Olympiacos, it was announced on Monday.
The concession relates to the indoor hall and all related indoor spaces, parking spaces, and part of the surrounding area that links the above facilities, without any changes in the terms of use.
Under the initial agreement, the Greek state will be responsible for the facilities' energy upgrade and necessary maintenance works, and Olympiacos for the change in use of SEF's track field into a basketball field, for which a comprehensive study has already been completed.
Like a corresponding agreement for Panathinaikos' basketball division at the main Olympic stadium (OAKA), Olympiacos will provide SEF with 30% of net profits from the rental and exploitation of the facilities. Olympiacos will also be responsible for the regular and emergency maintenance of concession spaces and commit to a minimum investment. The concession does not include carrying out at SEF international nd European championships or national championships, or 5 cultural events per year.
Current regular and temporary staff jobs and wages will not be affected, the government underlined.