Evangelos Marinakis, the Greek billionaire owner of Nottingham Forest, is in talks to buy a majority stake in the historic Brazilian club from Vasco da Gama, which would likely give a key role to former Arsenal sporting director Edu Gaspar.
Forest’s owner is building his own global multi-club group, including his initial acquisition, Olympiakos, historically Greece’s most successful club; Forest and top Portuguese club Rio Ave. Rio de Janeiro’s Vasco da Gama were previously controlled by 777 Partners, the American investors who sought to add Everton to their multi-club group before their financial model collapsed this year.
Edu’s departure from Arsenal emerged last month with the Brazilian, a Premier League winner as a player for the club, having accepted an unspecified role within Marinakis’ investment group. The Greek shipping magnate is exploring various investment possibilities, including in Italian Serie A club Monza.
Under the control of 777 Partners, Vasco da Gama was promoted to the Brazilian elite in 2022, but the American investment group failed to sustain its financial model. The group is now under the control of American insurance giant A-Cap, its main creditor, and the clubs are being sold.
Under Marinakis, Forest had some success recruiting Brazilian players, notably Murillo and Danilo, both of whom arrived from Brazilian clubs. There has been a rush for ownership of Brazilian clubs by large European investment groups since the Brazilian government passed laws in 2021 allowing clubs to transform their member-owned models into listed companies and effectively recapitalize themselves by selling them to private hands.
The City Football Group, of which Manchester City is the flagship, has acquired the famous Salvadoran club EC Bahia. The Red Bull ownership group acquired and renamed CA Bragantino, now Red Bull Bragantino, based in Sao Paulo. The great Ronaldo – the 2002 World Cup winning striker – invested in a consortium that took control of Cruzeiro, in Belo Horizonte. John Textor, the American investor who owns a stake in Crystal Palace and controls Lyon in France, has acquired Rio de Janeiro’s Botafogo.
Club ownership in Brazil offers advantages in the talent market, as well as a stake in a potential boom in the rights market for domestic football. Philippe Coutinho, 32, is currently at Vasco, on loan from Aston Villa. Dimitri Payet, 37, is another aging great. Vasco was Brazil’s last champion 24 years ago.