Nottingham Forest’s billionaire owner has significantly reduced his control over the club to comply with new European Union regulations on foreign ownership in sports clubs.
Nottingham Forest owners face Uefa rules on foreign ownership
Evangelos Marinakis has diluted his control of the club to meet European football union regulations.
UEFA regulations govern various aspects of football, including club licensing, financial fair play, and competition rules.
The UEFA Financial Fair Play (FFP) regulations aim to ensure clubs operate within their means, with a focus on sustainability rather than short-term gains.
Clubs must adhere to budgetary requirements, such as breaking even over a three-year period.
Additionally, UEFA regulates club ownership, player transfers, and match-fixing.
These regulations are enforced through regular audits and monitoring.
The Greek billionaire, who acquired a majority stake in Nottingham Forest in 2017, is now required to sell off shares to reduce his influence. This change comes as part of new European Union rules on foreign ownership in sports clubs.
According to these new regulations, owners with more than 70% control over a club must release at least 30% of their shares to eligible candidates within the next three years. In Marinakis‘ case, this means he will have to sell off around 25% of his stake in order to comply with the rules.
Nottingham Forest’s new ownership structure
Marinakis has responded to these changes by diluting his control over the club. He now owns approximately 60% of the shares, while a group of investors owns around 20%. The remaining 20% is held by fans and other stakeholders.
Nottingham Forest Football Club is owned by the City Ground Limited, a company registered in England and Wales.
The club's majority shareholder is Evangelos Blasberg, a Greek businessman who acquired a 70% stake in the club in 2022.
The remaining 30% is held by other investors, including the club's staff and supporters.
The ownership structure has undergone several changes over the years, with previous owners including Nigel Doughty and Fawaz Al-Hasawi.
This change in ownership structure aims to increase transparency and accountability within the club. By spreading ownership among various groups, it is hoped that decision-making will become more inclusive and representative of the wider fanbase.
Consequences for Marinakis
While Marinakis‘ reduced influence may seem like a negative development, it can also be seen as an opportunity for growth. The Greek billionaire has faced criticism in the past for his handling of the club’s finances and transfer policy.
Evangelos Marinakis is a Greek shipping magnate and businessman. He serves as the chairman of Olympiacos F.C., one of Greece's most successful football clubs. Marinakis also owns several other businesses, including the shipping company Capital Ship Management, which operates a fleet of tankers and bulk carriers. With an estimated net worth of over $1 billion, he is considered one of Greece's wealthiest individuals.
The new ownership structure may help to mitigate these concerns by introducing checks and balances on decision-making. By giving fans and other stakeholders a greater stake in the club, it is possible that issues such as financial mismanagement will be less likely to occur.
A way forward
Nottingham Forest’s new ownership structure represents an important step towards increased transparency and accountability within the club. By spreading ownership among various groups, it is hoped that decision-making will become more inclusive and representative of the wider fanbase.
This change also provides a chance for fans to take a greater role in shaping the future of the club. With their newfound influence, they can work together to create a brighter future for Nottingham Forest.
