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 only weeks after former owner John Textor was removed from control of the Brazilian club following a financial collapse. This collapse left Botafogo carrying debts reportedly worth billions of Brazilian reais.
Now, Marinakis has entered the picture alongside Iranian businessman Kia Joorabchian. They have made an official proposal to acquire 90% of the club’s shares.
The offer was reportedly submitted on Monday and immediately became one of the biggest talking points in Brazilian football. However, the bid appears to be about more than a straightforward takeover attempt.
Marinakis and Textor links remain strong
According to O Globo, there is a widespread belief inside Botafogo that the proposal is linked to Textor’s efforts. These efforts focus on regaining influence at the club.
Although the American businessman is not formally part of the bid, his relationship with Marinakis has become increasingly visible. This has happened over recent months.
The pair previously explored the possibility of working together on a Botafogo deal and have remained close despite those talks failing to produce an agreement.
Last month, they were spotted together in Portugal watching Rio Ave face Sporting. Their relationship had already developed through negotiations involving clubs connected to both businessmen’s football operations.
The connection is notable given the existing relationship between Nottingham Forest and Botafogo during Textor’s time in charge.
The two clubs completed several deals while both organisations were operating within closely connected football networks.
Some of those transactions later attracted scrutiny in Brazil as Botafogo’s financial problems became more visible and 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 publicly stated he would support the Marinakis-Joorabchian offer if it reached a vote. In addition, he claims he still controls 90% of Botafogo’s shares.
Earlier this year, he also presented his own proposal to reacquire the club, although that bid is not believed to have significant support.
Familiar name joins Forest owner
Kia Joorabchian is a familiar figure in English football circles. He spent years as one of the most influential intermediaries in the Premier League. At various points, he was considered particularly close to both Arsenal and West Ham.
His 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 viewed as favourites.
The report states that Mexican businessman Gabriel de Alba and investment group GDA Luma remain in pole position to secure control of Botafogo. Discussions between club officials and De Alba are said to be taking place almost daily.
Meanwhile, Mastercom Capital is attempting to force its way back into contention after previously submitting a £22m (€26m) bid. The investment fund is reportedly preparing an improved offer backed by stronger financial guarantees.
As things stand, Marinakis has entered one of the most important ownership battles in South American football.
However, his involvement further strengthens his growing presence in Brazil. It also adds another chapter to his increasingly close relationship with John Textor.
