nottingham forest Owner Evangelos Marinakis has emerged as a surprise figure in the increasingly chaotic battle for control of Botafogo. This is according to reports from Brazil.
The development comes just weeks after former owner John Textor was removed from control of the Brazilian club following a financial collapse. The collapse left Botafogo reportedly billions of Brazilian reais in debt.
Now, Marinakis has entered the picture with Iranian businesswoman Kia Joorabchian. He has made an official offer to acquire 90% of the club’s shares.
The proposal was reportedly presented on Monday and it immediately became one of the biggest talking points in Brazilian football. However, the bid appears to be more than a straight-up takeover attempt.
Marinakis and Texter links remain strong
according to EarthThere is widespread belief within Botafogo that the proposal is linked to Textor’s efforts. These efforts are focused on regaining influence at the club.
Although the American businessman is not formally part of the bid, his ties to Marinakis have become increasingly visible. This has happened in recent months.
The pair had previously explored the possibility of working together on the Botafogo deal and remained close despite those talks failing to reach an agreement.
Last month, they were spotted together watching Rio Ave Sporting match in Portugal. Their relationship had already developed through the two businessmen’s dealings with clubs involved in football operations.
The relationship is notable given the existing relationship between Nottingham Forest and Botafogo during Textor’s time in charge.
The two clubs completed a number of deals, with both organizations operating within a closely linked football network.
Some of those transactions later came under investigation in Brazil. As Botafogo’s financial problems became more visible questions were raised about the movement of players and assets between clubs linked to Textor and Marinakis.
Although no wrongdoing has been established, the background adds another layer to the latest proposal.
Textor has since said publicly that he would support the Marinakis-Joorabchian proposal if it reached a vote. Furthermore, he claims that he still controls 90% of Botafogo’s shares.
Earlier this year, he also presented his proposal to re-acquire the club, although that bid is believed to have not received significant support.
Familiar name connects to forest owner
Kia Joorabchian is a familiar figure in English football circles. He spent years as one of the most influential arbitrators in the Premier League. At various points, he was considered particularly close to both Arsenal and West Ham.
Their involvement gives the proposed takeover an even stronger Premier League flavour.
Despite the attention generated by Marinakis and Joorabchian’s proposal, the pair are not currently seen as favourites.
Mexican businessman Gabriel de Alba and investment group GDA Luma remain the top contenders to take control of Botafogo, the report said. Discussions between club officials and De Alba are said to take place almost daily.
Meanwhile, Mastercom Capital is attempting to get back into contention after previously submitting a £22m (€26m) bid. The investment fund is reportedly preparing an improved offer backed by strong financial guarantees.
As things stand, Marinakis has entered one of the most important ownership battles in South American football.
However, their participation further solidifies their growing presence in Brazil. It also adds another chapter to his increasingly close relationship with John Texter.
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