At her gates Rio Ave is the Vangelis Marinakis. According to Portuguese media, the members of the club overwhelmingly approved the sale of the majority stake to its owner Olympiakou and Nottingham.
Specifically, the sale received 555 votes in favor, only 21 against, while there were also 20 abstentions. The Greek businessman is expected to secure 80% of the club’s shares and is said to be ready to invest 20.5 million euros immediately until the summer, for debt payments, strengthening the team with transfers, but also improvement projects on the field.
Earlier, the president of Rio Ave, Alexandrina Cruz, presented to the members of the association the proposal of Vangelis Marinakis with all the details of his investment plan. In the first phase, three people of his confidence will be appointed to the administration, where he will have a majority over two members of the previous regime.
After 11 matches, Rio Ave are in the relegation zone, 16th (among 18 teams), in the Portuguese league with 9 points, while three teams are just above them with ten points.
Socios do Rio Ave aprovam criacao da SAD, com 555 votos a favor, 20 abstencoes e 21 votos contra ??
Marinakis, dono do Olympiacos and do Nothingham Forest, ficaria com 80% do capital e colocaria 20.5 milhoes no Rio Ave ate junho de 2024.
Payment of dividends, reforco do plantel… pic.twitter.com/plH7F93C87
— Cabine Desportiva (@CabineSport) November 19, 2023
Source: Sport Fm
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