Panathinaikos AO, founded on February 3, 1908, by Georgios Kalafatis as Podosferikos Omilos Athinon, serves as a historical cornerstone of Athenian sport. The club adopted its iconic green-and-white colors and the shamrock crest, symbolizing youth and hope, during its early decades. The Apostolos Nikolaidis Stadium, opened in the 1920s on Alexandras Avenue, remains the club's traditional and emotional home ground.
Domestically, the club has secured 20 Greek League titles and 20 Greek Cups, consistently establishing high competitive standards in Greek football. However, it is the club's international record that truly distinguishes it within Greek sports history, cementing a reputation as a side capable of making major impacts in UEFA competitions.
The defining moment of the club's continental history came during the 1970–71 European Cup campaign. Guided by legendary manager Ferenc Puskás and led on the pitch by midfielder Mimis Domazos—the club's all-time appearances record holder with 504 matches—Panathinaikos advanced to the final at Wembley Stadium. Despite a 2–0 defeat against Ajax, they remain the only Greek club ever to reach the final of Europe's premier competition.
This European heritage continued into later decades, highlighted by semi-final runs in the European Cup / UEFA Champions League in 1985 and 1996. In the 1996 semi-finals, Panathinaikos secured a famous 1–0 first-leg away victory against Ajax in Amsterdam, scored by Polish striker Krzysztof Warzycha. With 288 goals, Warzycha stands as the club's all-time leading goalscorer, earning his place among legendary figures alongside goalkeeper Józef Wandzik and forward Dimitris Saravakos.