Blair family
Nicky Blair (far left) and the Blair Family outside 10 Downing Street in London after Labour's victory in the general election in 2005. REUTERS/Kieran Doherty

Nicky Blair, the son of former UK Prime Minister Tony Blair, is set to cash in on the World Cup bonanza by making millions from his Rio-based football agency business, it has been revealed.

Nicky, 28, is a Fifa-licensed agent and runs Magnitude Brazil Sports Ltd from an office in Rio de Janeiro. He is set to broker a string of lucrative moves for a number of South American starlets to major European clubs after the tournament in Brazil ends, the Sunday Mirror reports.

The South American stars on the company's books include midfield all-rounder Hector Herrera. Nicky Blair has already handled his £6.7 million transfer from Pachuca in Mexico's first division to Portuguese club FC Porto.

The deal made Herrera Mexico's most expensive player and established Magnitude, which Nicky founded with Oxford friend Gabriel Moraes and Brazilian business partners Rafael Fraga and Vinicius Marques, as a major player in the market for the talented South American players showcased during the World Cup.

Another promising player, Mexican midfielder Marco Fabian, 24, is valued at around £10m. Brokering a deal to a European club after the World Cup could earn Nicky the standard agent's fee of 10% - making the Oxford graduate £1m.

A fellow soccer agent told The Sunday Mirror: "The World Cup is obviously going to shine a light on South American football and Nicky looks to be in a great place to benefit from that. He's got loads of South American kids.

"Finding the next wonderkid is one thing, finding the next Brazilian wonderkid is quite ­another. The aura surrounding players from that country is as strong as ever, thanks to megastars like Neymar."

The success is a remarkable financial turnaround for Nicky, whose first business venture – computer games firm Magnitude Gaming – was dissolved in 2013. His mother, Cherie Blair QC, was a 20% stakeholder in Magnitude Gaming and is said to have been instrumental in setting up the football agency – making contacts and negotiating on behalf of her son.

Nicky's father Tony is also a shrewd businessman, and is reported to have amassed a £75m fortune through consultancy roles, appearances and public engagements, and investments.