Rio Ave’s partners approved this Sunday in the General Assembly by a large majority (400 votes in favor and about 60 votes against and zero) the creation of a SAD and the entry of an investor, the Greek Evangelos Marinakis. which He has already invested in Olympiacos and also in Nottingham Forest. During the main meeting, which took place at the Municipal Theater of Vila do Conde, the President of Vilacondenses, Alexandrina Cruz, unveiled the investment plan of the future owner of 80% of the capital of Sociedade Anónima Desportiva.
The Greek businessman plans to invest “20.5 million euros until June 2024”, an amount that will guarantee the “payment of short-term debts, budget and salaries until the end of the season, as well as strengthening the team in January and improve the facilities, stadium and gym”.
Of the five managers, two will be appointed by the Vila de Conde club and the remaining three will be chosen by Marinakis. However, Alexandrina Cruz assured members that “all assets will always belong to Rio Ave”, as well as the current league license (which guarantees the club the right to register in the League). According to the president, the Greek has no plans to make any changes to the management of the emblem.
Rio Ave’s president expressed “great satisfaction” with the members’ participation in the general meeting and “with the confidence shown in the management’s proposal and in the credibility of Evangelos Marinakis’ project”. Alexandrina Cruz believed that Rio Ave was “lucky that such a good solution and proposal appeared in such a difficult time”, and admitted that if the partners rejected it, she would resign from her position.
Rio Ave was organized into a Unipersonal Sports Society by Shares (SDUQ) and became a Sports Joint Stock Company (SAD), owned by a 56-year-old Greek multi-millionaire. Born in Piraeus, he inherited a small ship management company from his father, Miltiadis Marinakis. After completing his studies in International Business Administration and International Relations in London, Evangelos founded Capital Maritime & Trading Corp: a maritime management company, which in 2017 owned 70 ships, including oil tankers, container ships and bulk carriers. It is one of the most influential names in the shipping sector, having made a fortune in the marine sector and valued at €2.7 billion.
Passionate about football, he bought Olympiacos in 2010 and has since led the club, which has a strong bond with Portuguese football. More than 50 players and coaches have already worn the said shirt. Suspicions of bribery and support for the violent wing of the club’s supporters have tarnished the club’s reputation, despite several accusations the club has almost always been acquitted, including allegations of drug trafficking on board some of its ships. In 2017, he ventured into English football and took over Nottingham Forest, who were promoted to the Premier League.
Source: DN
