Evangelos Marinakis’ football conquest of Brazil

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For months now, reports have suggested that ambitious Forest owner, Evangelos Marinakis, wishes to expand his football empire to the nation of Brazil. However, much of this remains “up in the air” - what is happening in Evangelos Marinakis’ conquest of Brazil?

Firstly, let’s establish the facts: Evangelos Marinakis has ambitions to build a global, successful, sporting empire, consisting of clubs from various nations, cultures, leagues, and so on. Currently, Evangelos Marinakis has majority ownership in Olympiacos (his first club), Nottingham Forest and most recently, Rio Ave. According to Transfermarkt, Mr Marinakis manages £472,226,610.63 in *player assets* alone, across the three teams, with Nottingham Forest reportedly the highest valued squad of the three, worth approximately £352,531,211.97, although based on the current status of football transfers, this number is potentially higher. With brand and other assets involved, I cannot imagine the value of his footballing empire as a whole would be far off of £1bn - it’s a matter of time before it gets there, player assets - particularly transfers & youth develop - will be key to making this value increase. By buying a new club, Evangelos Marinakis is on the cusp of developing something truly special. Brazil is the next stop, Vasco da Gama wanted, São Paulo of interest…

What is a multi-club model?

It is probably a good idea to discuss, briefly, the role of a multi-club model within the game. Firstly, a multi-club model (as the names gives away) consists of a group of clubs under the same ownership: this can be that of an individual, group, or perhaps a consortium - a group of several businesses in a fund purchasing a stake in a club. 

Clubs such as Manchester City, Chelsea, RB Leipzig & Lyon - to name some - are all in multi-club models. As you’d guess, the City Group - owners of Manchester City - are the most successful, and indeed the largest, holding majority ownership in the likes of Girona & New York City FC, with the group still expanding.

Multi-club models offer a chance for development at varying levels, and in different environments; in Marinakis’ football groups instance, a player could develop at Olympiacos with Premier League pedigree -  for example - and club officials could determine it would make the most sense for them to make the move, and further their development/bring success to Forest. On the latter, Forest/Olympiacos could loan a player to Rio Ave, to further their development, and bring success in their league for that club - this is applicable across all the clubs.

Furthermore, with multi-club models comes a degree of Financial Fair Play benefits. Due to the ownership nature, clubs can transfer players between them, but are scrutinised by UEFA on FMV (Fair Market Value), however even at FMV, clubs in multi-club models can typically navigate FFP easier than clubs not in one (size dependent).

While I won’t make this into a “pro’s and con’s” article, it should be noted that this can create discontent for fan bases: being at the “top” of a multi-club model is great, for other clubs in the group? Fans may see themselves as simply a stepping stone. You have to strike a fine balance. But in buying clubs that had/have been in an incredibly turbulent period, Evangelos Marinakis can only really offer progress - could this be a stroke of genius?

Why does he want Brazil so badly?

Anyone who watches football knows the gems that Brazil have created over the years: Pele, Ronaldo (original), Ronaldinho, Cafu, Kaka, Neymar, Carlos…ah, the list could go on forever! But those are only past names, true icons of the game, and even now is the South American footballing giant producing some upcoming/already-stars.

Forest alone have Murillo, Miguel, Morato & Danilo, and while I’m not even for a second suggesting they are in comparison to the names above, it does show a pattern. 4/25 (16%) of Forest’s registered squad is Brazilian. Combined fees for these players are around £45m [reports]. £11.25m per player averaged out. The underlying point? Typically, transfers from Brazilian sides are cheaper than Europe, especially England, and have a good level of success, meaning a usually very attractive fee paid to fee made / progress ratio.

Brazil, in Marinakis’ - and many football fans’ - eyes, is one of the biggest football talent producers in the world, likely due to its astonishing football culture. That’s why the Greek tycoon wants his next investment to be there. 

Vasco da Gama are a team with a rich history. Rio de Janeiro, the capital, its home, the clubs name associated with silverware on a domestic, continental, and inter-continental level. A highly successful side, for which Evangelos Marinakis is said to be in negotiations to purchase, a move that would completely change the trajectory of his multi-club model.

On the other hand, a potential investment in São Paulo, more specifically its youth system - as it’s known, Cotia - and despite the clubs supposed dismissal of the idea, could the vast pockets of Mr Marinakis matched with the need for investment in Cotia prove to be a potential cornerstone in such negtotiations.

Either way, the “football conquest” of Brazil is underway by Marinakis & his team - how much progress have they made so far, and could we see this happen any time soon?

Will it be Vasco, or São Paulo?

Currently, it isn’t known which side will receive the investment from Evangelos Marinakis; it’s important to note that interest in Vasco da Gama is to purchase the club, whereas interest in São Paulo is for investment in the youth system - who knows, it could be both…

It is important to note that possibly the biggest reason for Vasco being Marinakis’ choice is down to the collapse of 777 partners - a consortium that almost bought Everton - and that owns Vasco. Now, with their collapse, comes the sale of gigante da Colina - Marinakis wants to put his stamp on Brazil, and this could be his chance.

On São Paulo, the clubs President Júlio Casares, told ‘Terra’ the following:

“Sale of the base [Cotia], never. It is an asset of São Paulo. What we are envisioning is an operational agreement with “revenue share”, which means the investor puts in (money) and also participates.”

As you can see, a defiant Casares - he doesn’t want to “sell off” the clubs youth system, but could the Greek magnates money persuade him eventually, if not now? I suppose only time will tell.

Evangelos Marinakis has long coined the term “we keep on dreaming,” but could his dreams of making a strong, competing football group become reality very, very soon?

More Brazilian Business?

Nottingham Forest are exploring various options in the transfer market, it should also be noted, especially in an article about Brazilian football.

Fluminense’s young forward Kauã Elias is of interest, with six goals & two assists for Fluminense in Série A, at just 18 he is catching the eyes of Forest scouts. From what stats suggest, and having done some research, I would say he fits the profile of what Forest need, and would work well as an understudy to Chris Wood, for the time being. 

Finally, it would be worth keeping an eye on young Palmeiras winger Riquelme Fillipi. The Reds targeted a move in summer, and could move once again; one for the future.

More updates to come on transfers, and Evangelos Marinakis’ pursuit of Brazilian football clubs.