From The Collaborative International Dictionary of English v.0.48:

Olympiad \O*lym"pi*ad\ ([-o]*l[i^]m"p[i^]*[a^]d), n. [L.
   olympias, -adis, Gr. 'olympia`s, 'olympia`dos, fr. 'O`lympos
   Olympus, a mountain in Macedonia: cf. F. olympiade.]
   1. (Greek Antiq.) A period of four years, by which the
      ancient Greeks reckoned time, being the interval from one
      celebration of the Olympic games to another, beginning
      with the victory of Cor[oe]bus in the foot race, which
      took place in the year 776 b. c.; as, the era of the
      [1913 Webster]

   2. The quadrennial celebration of the modern Olympic games;
      as, the first Olympiad (1906). See Olympics.

   Syn: Olympic games, Olympics.
        [Webster 1913 Suppl.] Olympian
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