Nottingham Forest has completed the €20 million signing of Portuguese midfielder Gustavo Sá, immediately loaning him to Olympiacos. The deal, finalized this week, is the latest example of how the club uses its multi-clown ownership structure to develop talent and manage finances.
The Transfer Details
The 20-year-old Sá joins from Portuguese side Rio Ave for a reported €20 million fee. He has signed a long-term contract with Forest but will spend the remainder of the season at Olympiacos, the Greek club also owned by Evangelos Marinakis. The loan includes no option or obligation to buy, meaning Sá remains a Forest asset.
Sá made 28 appearances for Rio Ave last season, scoring three goals and providing two assists. He is primarily an attacking midfielder but can also play on the wing. The move allows him to gain experience in European competition, as Olympiacos is competing in the Europa League.
Multi-Club Ownership Strategy
Nottingham Forest and Olympiacos are both part of the Marinakis network, which also includes Portuguese club Rio Ave. This structure allows the group to move players between clubs without triggering immediate financial fair play concerns. By buying Sá and loaning him to Olympiacos, Forest spreads the cost of the transfer over time while the player develops in a competitive environment.
Similar moves have been seen across the industry, with clubs like Manchester City and Red Bull using multi-club models to optimize their squads. For Forest, it's a way to invest in young talent without clogging their own roster, which already has several midfielders.
What This Means for the Clubs
For Nottingham Forest, the deal secures a promising player for the future without an immediate impact on their Premier League squad. The loan to Olympiacos ensures Sá gets regular minutes and European exposure, potentially increasing his value.
Olympiacos gains a creative midfielder for the second half of the season, bolstering their push for the Greek title and a deep Europa League run. The Greek side has a history of developing Portuguese talent, including former Benfica star Rui Costa.
The move also raises questions about how Forest will integrate Sá when he returns. With the club fighting to avoid relegation, they may need his services sooner rather than later. For now, the focus is on his development in Piraeus.
