The wealth of football club owners has been a hot topic in recent weeks.
The £305m takeover of Newcastle United which was completed earlier this month turned them into one of the richest sides in the world.
And while Nottingham Forest chief Evangelos Marinakis may not be operating on quite the same scale as the Saudi Arabia-led consortium who bought the Magpies, he is still in a healthy financial position.
A show of trust in Marinakis’ shipping company, CPLP Shipping Holdings PLC, has led to record success when a 150m euros bond was issued, raising a significant amount of money.
Greek website in.gr states the bond was “oversubscribed by more than five times, with listed offers exceeding 800m euros for five-year senior unsecured bonds” by the company, which Marinakis founded.
The report adds: “The considerable interest by investors for the new shipping bond marks the most successful such corporate issue of bonds traded on the Athens Stock Exchange's (ATHEX) primary market.
“The record-setting success of the issue is due, in large part, to the significant commercial size of the broader Marinakis-owned shipping group, as well as on the financial strength of Capital Product Partners, which has been listed on Nasdaq since 2007 and is also the guarantor of the bonds.”
In total, bidding demand by investors for the public offer is said to have reached 801.37m euros, oversubscribing the issue by 5.3 times.
The company are planning to use the 150m euros raised to “partly finance a ‘green’ strategic business plan totaling 1.2 billion euros”.
Since buying Forest in 2017, Marinakis, who also owns Greek giants Olympiacos, has invested a lot of money into the club - including more than £2m spent directly related to the City Ground redevelopment plans.
The Reds’ most recent set of accounts, released earlier this year, included a statement saying, Marinakis remains “committed to the long-term future of the club and its funding”.
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