The first Games held under the auspices of the IOC was hosted in the Panathenaic stadium in Athens in 1896. These Games brought 14 nations and 241 athletes who competed in 43 events. Zappas and his cousin Konstantinos Zappashad left the Greek government a trust to fund future Olympic Games. This trust was used to help finance the 1896 Games. George Averoff contributed generously for the refurbishment of the stadium in preparation for the Games.
The Greek government also provided funding, which was expected to be recouped through the future sale of tickets to the Games and from the sale of the first Olympic commemorative stamp set.
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