Evangelos Marinakis, the owner of Nottingham Forest, is stepping back from his managerial role at the club for the upcoming season to adhere to UEFA’s regulations regarding multi-club ownership.

The legal firm based in Cheltenham, which previously managed a blind trust for Girona, a club associated with Manchester City, will also oversee a similar arrangement for Nottingham Forest. This move involves Marinakis placing his shares into the trust.

As Marinakis owns Olympiacos, a Greek club that has secured a place in the forthcoming Champions League, competing interests arose due to the potential for Forest to also qualify by finishing within the Premier League’s top five. The blind trust is necessary to prevent conflicts, as UEFA’s rules mandate that clubs under the same ownership cannot participate in the same tournament.

The 57-year-old billionaire from Greece has relinquished his significant control over NF Football Investments Ltd, with Pittville One Ltd taking over management. This new entity is operated by a trio of solicitors from Wiggin Osborne Fullerlove.

Among the newly appointed directors is Matthew Shayle, who also served on the board of Girona last season.

According to UEFA’s guidelines concerning multifaceted club ownership, no person or entity can control two clubs competing in the same tournament. For instance, Manchester United’s co-owner, Ineos, has temporarily halted its investment in Nice for the current season.

Currently, Nottingham Forest sits sixth in the Premier League standings but has the opportunity to climb to third place if they secure a victory against Brentford in their outstanding match at the City Ground on Thursday.

If Forest achieves qualification for the Europa League, the requirement for a blind trust would be rendered unnecessary, allowing ownership to revert to its original structure.

Following Marinakis’ withdrawal from ownership, Sokratis Kominakis, co-owner of Forest, has rejoined the club’s board.