On 29 April, Forest were two points off third place and very much in the race for the Champions League.
This is the date Marinakis stopped being a person of control at the club, according to Companies House, the government organisation which holds the UK’s register of companies.
“Cessation of Evangelos Marinakis as a person of significant control” was the standard, curt statement on Companies House to signify the end of his position with NF Football Investments Limited, the vehicle that owns the City Ground club.
It was accompanied by a one-page document which had been authorised and filed electronically.
The reason? Marinakis also controls Greek team Olympiakos, who were also set to be in the Champions League.
Uefa rules state clubs under the same ownership cannot compete in the same European competition.
Therefore, Marinakis had to, on paper at least, not be listed as a person with significant control of Forest.
At the time, a club source told the BBC Marinakis remained the owner and was still committed to the Premier League side.
Should Forest fail to qualify for the Champions League, Marinakis could become a “person of control” again.
Indeed, he went on to the pitch to speak to Nuno after a 2-2 home draw on 11 May against Leicester proved costly to their ambitions of playing in Europe’s elite club competition.
Forest eventually finished seventh and qualified for the Uefa Conference League, although they were eventually promoted to the Europa League (more on that shortly).
Olympiakos did get into the Champions League as they finished seven points clear at the top of the Greek Super League.
As there was no conflict in Uefa’s eyes, Marinakis could again be listed as the owner of both clubs.
On 12 June, there was another update to Companies House, which read: “Notification of Evangelos Marinakis as a person of significant control on 6 June 2025.”
The accompanying document said “the person holds, directly or indirectly, 75% or more of the shares in the company”.
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