[uh-lim-pee-ad, oh-lim-]
noun (often lowercase)
a period of four years reckoned from one celebration of the Olympic Games to the next, by which the Greeks computed time from 776 b.c.
a celebration of the modern Olympic Games.

1350–1400; Middle English < Latin Olympiad-, stem of Olympias < Greek Olympiás noun use of the adj.: of Olympus. See Olympia, -ad1

Olympiadic, adjective
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World English Dictionary
Olympiad (əˈlɪmpɪˌæd)
1.  a staging of the modern Olympic Games
2.  the four-year period between consecutive celebrations of the Olympic Games; a unit of ancient Greek chronology dating back to 776 bc
3.  an international contest in chess, bridge, etc

Collins English Dictionary - Complete & Unabridged 10th Edition
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Word Origin & History

late 14c., "period of four years" (between Olympic games), from Gk. olympiados, gen. of Olympias (see Olympic). Used by ancient Greeks as a unit in computing time. Revived in modern usage with revival of the games, 1896.
Online Etymology Dictionary, © 2010 Douglas Harper
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