Marinakis dilutes control of Forest
Summary
Nottingham Forest's owner, Evangelos Marinakis, has lessened his control over the football club to follow European football rules. This decision comes as Forest and another team Marinakis owns, Olympiakos, are both likely to qualify for next season's Champions League, where rule violations would occur if teams under the same ownership competed.Key Facts
- Evangelos Marinakis, owner of Nottingham Forest and the Greek team Olympiakos, has diluted his control of the Forest club.
- This action ensures adherence to rules set by Uefa (European football's governing body), which limit multi-club ownership within the same European competition.
- Both Nottingham Forest and Olympiakos are on the verge of qualifying for next season's Champions League, posing a potential rule violation if Marinakis keeps his current level of control over both teams.
- Marinakis has placed his shares in a blind trust (a method to manage assets without the owner's involvement).
- Despite the change, Marinakis remains the owner of Nottingham Forest and he is still dedicated to the club.
- The changes were completed by the end of April, which is in compliance with Uefa's rules.
- After Marinakis stepped back, a co-owner named Sokratis Kominakis has rejoined the Nottingham Forest's board.
- Olympiakos is leading the Greek top football league and is expected to qualify for the Champions League.
- Manchester City and Girona were allowed to compete in the Champions League due to changes in their control arrangements.
- Former Arsenal sporting director, Edu, is predicted to join Marinakis' multi-club model in a global role within a few weeks.
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