Matsakis is a 1984 graduate of Capital University in Columbus, Ohio, where he was a four-year letter winner and a three-time First Team All-Ohio Athletic Conference selection as a kicker.
Matsakis returned to Capital University when he was hired as the offensive coordinator for his alma mater on February 15, 2008, by new head coach Jim Bickel.
Matsakis was hired by the Winnipeg Blue Bombers of the Canadian Football League (CFL) to replace the ill Andy Cox as their running backs coach two weeks into the 2009 season.
In 2010, Matsakis was hired to be the head coach at Enka High School in Candler, North Carolina where his teams compiled a 13–23 record before resigning in 2013.
In July 2018, Defiance College announced that it had selected Matsakis as head coach of the Yellow Jackets.