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Goulandris started his involvement with the Olympiacos in 1970, became its General Manager in 1971 and became President in 1972. His 1973-1974 team, created an even nowadays unbreakable record of 102 goals scored and only 14 conceded. The following year, they conceded only 13 goals.
Nikolaos Goulandris is rated amongst the best presidents in Olympiakos' history.[by whom?] Due to health problems, he was forced to withdraw from football management.[when?] He died in 1983; legend says that his final words were: I am not brood about my upcoming death. What actually saddens me, is the fact that i won't be able to watch my beloved Olympiakos!
The "Nikolaos Goulandris" plaque, given to supporters of the F.C., is named in his honour.
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