The Greek businessman has overseen significant investment, several major transfers and a period of relative stability in Portugal’s top flight.
Now, with Rio Ave struggling near the bottom, he’s already made another big decision. A change of manager comes just as club president Alexandrina Cruz prepares to seek another term.
And judging by her latest comments, she’s very happy with how things are going behind the scenes.
Rio Ave president delighted with Marinakis
Speaking to Portuguese news agency Lusa, as published by O Jogo, Cruz discussed her relationship with the Nottingham Forest owner.
“He’s an ambitious man who makes things happen, with a very clear idea of what he wants and a 360-degree vision of the group,” she said.
“I see him as genuinely enthusiastic about Rio Ave, not only in sporting terms, but also in the social impact he’s having on the city. Those are values I share with him.”
Cruz became Rio Ave’s first female president in 2023. She’s now planning to stand for re-election in November, hoping to complete several projects already underway. That includes a major redevelopment of the club’s facilities.
“I feel that the work isn’t finished. Over the next two or three years, Rio Ave will be completely transformed in terms of its facilities and sports complex. I really want to help achieve that major objective,” she explained.
How Rio Ave have changed under Marinakis
Rio Ave went through a difficult period at the beginning of the decade. They finished 16th in 2020/21 and got relegated to Portugal’s second division.
They bounced straight back as champions the following season, before Marinakis became involved in the project.
Since then, the club have generally established themselves around the middle of the Portuguese top flight. They finished 11th in both 2023/24 and 2024/25, followed by 12th last season.
The 2024/25 campaign also brought a run to the Portuguese Cup semi-finals. Sporting CP eventually ended their journey with a 2-0 victory.
Marinakis has certainly been willing to spend money. Sixteen of the 20 most expensive signings in Rio Ave’s history have arrived under his ownership. Three of the club’s five biggest sales have also taken place during that period.
Those numbers show how much the transfer business has changed, with Rio Ave now operating on a considerably bigger scale – even with this season’s slump.
A difficult start and another big decision
Rio Ave have collected just four points from their opening seven league matches. They’re 16th, in a relegation play-off position.
Marinakis has already reacted by dismissing Greek manager Sotiris Silaidopoulos, who left just last week after a disappointing start to the campaign.
He’s replaced him with Vasco Seabra, a young Portuguese coach who arrives with a good reputation in the local media. His first match is scheduled for 11 October.
There’s plenty of pressure to turn things around, especially considering the money invested in recent years.
Surely it’s an interesting look at how Marinakis runs his football interests outside England. And Cruz’s comments suggest that, whatever the current league table says, the people working alongside him at Rio Ave remain convinced by his plans.
