Olympiacos Owner Vaggelis Marinakis Buys Nottingham Forest
Olympiacos president, Vaggelis Marinakis, is the new owner of English club Nottingham Forest along with Sokratis Kominakis. By their side will be Olympiacos’ former managing director, Ioannis Vrentzos.
After 14 months of negotiations, speculations, and, setbacks, Vaggelis Marinakis is the new owner of English side Nottingham Forest. The “Foresters” have now placed their hopes on the Greek entrepreneur, as the 5 years of Fawaz Al-Hasawi’s presidency turned out to be a let down for the club.
Sokratis Kominakis will be by Marinakis’ side along with Ioannis Vrentzos who will be the new CEO of the Foresters. Vrentzos, Olympiacos’ former managing director, accepted Marinakis’ offer to leave the Greek Champions and move to England. The Greek investors now own 100% of the club, despite a heavy investigation from the English authorities focussed on Marinakis’ former legal issues in Greece .
The terms of the deal, whose price remains unknown, are the following:
- The new owners of Nottingham Forest FC founded a new company under the name of NF Football Investments Ltd, based in the UK.
- Nicholas Randall QC, leading sports lawyer, was assigned as the club’s president.
- Ioannis Vrentzos will be the club’s new CEO.
- Frank McParland will continue as the club’s football director.
After the deal, Marinakis talked to the BBC and stated that he wants to restore Forest back to their former glory days in the Premier League while pursuing titles.
“What we have achieved in domestic and European football with Olympiacos is what we want to mimic with Nottingham Forest. Forest is one of England’s oldest clubs and one with a proud history of domestic and international excellence. Our objective is to bring back the glory days. We are football people to the core and we love and know the game. Our team has demonstrated that we know how to create success in football by having won title after title with Olympiacos in Greek football” said Marinakis. He continued saying “We want to rekindle Forest’s past success and we are committed to the club for the long-term. What the club needs is a solid and time-tested management, a professional board, and above all, the best possible football management and players. The new administrative positions at the club will be Nicholas Randall QC as Chairman, Ioannis Vrentzos as CEO, Samantha Gordon as CFO, and David Cook as CCO, and they will deliver just that.
Read Marinakis’ full statement here.