The stadium was finished in 1929 and was officially opened in 1930 in a ceremony with the presence of Prime Minister Eleftherios Venizelos.

decided to install new seats, thereby reducing the stadium's capacity from 35,000 to 24,729 (not including the press and VIP stands).

Nikolaidis started negotiations to build a new football stadium further to the north, on the southern foothills of Mount Parnitha.

However, this drew a great deal of controversy with the team's fan club Original 21 who opposed this plan.

On October 2, 2013, the AEK Athens board under Dimitris Melissanidis, presented plans for a new stadium to the municipality of Nea Filadelfeia, in order to gain build permission.

The cost of the project was initially not published, but AEK had been granted 20 million euros by the Greek government as a contribution for the construction, while the rest of funding would be done privately.

In 1992 the group Simply Red and in 1993 Elton John and Sting performed at Nikos Goumas Stadium.