Originally called Stadium of Panachaiki, it has been officially renamed Kostas Davourlis in 1992 after the great football player who died the same year.

The placement of plastic seats and the construction of the roof (north stand) in 1997; the refurbishment of facilities below the stands (VIP club, cafeteria, club shop) and the installation of floodlights in 2000 have done much to upgrade it.

Adjacent the Kostas Davourlis Stadium is Panachaiki's arena for indoor sports, built in 1984.

Access to the stadium and the lack of parking spaces are probably the most important of these.

There is talk that a large car park will be constructed on the western side of the stadium, but this will only go through if the necessary funds are secured.