The Gymnastic Association ''Pancypria'' was founded in 1894 with the initiative of the lawyer Theofanis Theodotou and the doctors Antonios Theodotou and Aristofanis Fenievs.
The first committee of GSP, made use of the gym of the ''Cypriot Association'' as a stadium, near the church of Saint Savvas, which was later renamed to ''Pancypria Gym''. The administration was assigned to Theofanis Theodotou who had participated mane times in the Gymnastic events in Greece and had twice won the laurel of victory.
After these , the board of Directors of GSP, using stocks of the Greek Orthodox residents of Nicosia , bought some space outside the walls of Nicosia and in 1902, the new gym was constructed . As Nicolaos Katalanos writes in the ''Cypriot Album '' in 1914 , ''broad and in an excellent location and made this the first in the whole East and second only to the Panathens Stadium''.
Since 1934 this Stadium had been called ''G.S.P. Stadium of Eugenia and Antonios Theodotou'' in honor of its great benefactors and their significant donation to the Gymnastic Association. The GSP Stadium of Eugenia and Antonios Theodotou, according to article 42 of the Association's memorandum , has been registered in the name of the Archbishop of Cyprus on the 8th May 1951. Excellent athletes of GSP who won significant victories not only in Cyprus but abroad as well, brightened this stadium with their presence. GSP was linked with classic athletes of the capital and became the expresser (spirit) of the track and field.
At the same time GSP Stadium was used by the football clubs of Nicosia and became the center of all athletic meetings in Cyprus.
The GSP Stadium was also associated with important pages of the history of the Greek Cypriot nation. Great events and important speeches supporting the Unitary Referendum and the ending of the colonialism took place within the GSP.
After the construction of the Makarion Athletic Center, GSP Stadium began to fall behind. Step by step, athletic events were transferred to the Makarion Stadium.