Nottingham Forest have formally written to UEFA questioning whether Crystal Palace should be allowed to play in next season’s Europa League after their surprise FA Cup triumph. Forest’s letter focuses on multi-club-ownership rules because the Eagles’ biggest shareholder, American businessman John Textor, owns 43 % of Palace while also controlling Olympique Lyonnais, who have qualified for the same competition. UEFA’s Club Financial Control Body is expected to rule by 27 June 2025 on whether the two clubs can both participate. If Palace are barred or demoted to the Conference League, Forest – currently pencilled in for the Conference – would be bumped up to the Europa League instead. (onefootball.com)
Marinakis’s own compliance – and new leverage?
Forest owner Evangelos Marinakis quietly placed part of his Forest stake in a blind trust on 30 April to avoid exactly the conflict Textor now faces, since he also owns Olympiacos, who will be in the Champions League. (theguardian.com) That show of rule-following gives Forest moral high ground in their UEFA submission – but it also puts Marinakis at the centre of a messy ownership chess game.
The Botafogo pipeline
While Forest were drafting that UEFA letter, Marinakis was simultaneously in direct talks with Textor to buy three Botafogo prospects – striker Igor Jesus, defender Jair Cunha and full-back Cuiabano – in deals worth more than €30 million. Brazilian outlet Globo, relayed by Sport Witness, says the negotiations were handled “directly by Textor and Marinakis” because the two “get along” and “constantly talk about market opportunities”. (sportwitness.co.uk)
Devil’s-advocate reading: friendly fire?
Put those strands together and a more cynical scenario emerges:
- Official narrative - Forest are protecting sporting integrity; Textor simply missed UEFA’s 1 March deadline and must now sell his Palace stake.
- Devil’s-advocate narrative - Marinakis and Textor are long-time allies (transfer pipeline, executive boxes at the City Ground). The UEFA letter might crank up the pressure on Palace’s other shareholders (Steve Parish, Josh Harris, David Blitzer) to buy Textor out quickly or accept a lower price – or even open the door for a Marinakis-backed buyer to step in.
If the Palace board capitulates and Textor exits, Palace keep their Europa spot, Forest still profit from Botafogo’s talent stream, and both owners appear to have “won.” Conveniently, Forest can later withdraw any legal action once compliance is assured, having never risked their own place in Europe.
Questions worth asking
- Timing: Why did Forest wait until after those Botafogo negotiations were advanced to send their UEFA complaint?
- Communication: Were Textor and Marinakis in contact about the letter before it was sent? (Globo suggests they speak “constantly.”) (sportwitness.co.uk)
- Exit price pressure: Could the mere possibility of Palace being thrown out of Europe depress the valuation of Textor’s 43 % stake, making a buy-out easier for a friendly consortium?
- Reciprocity: What does Textor gain beyond player-sale revenue? A smoother exit from Selhurst Park, or leverage with Lyon’s own UEFA monitoring?
- Precedent: If UEFA bends rules for a rapid share sale, does that incentivise other multi-club owners to engineer last-minute reshuffles – or complaints – whenever a rival’s paperwork looks shaky?
The next dates to circle
- 17 June 2025: Europa Conference League first-qualifying-round draw (knock-on effects for Brighton & Hove Albion if Palace drop down).
- 27 June 2025 (UEFA CFCB decision window): Palace/Lyon ruling expected.
- Early July: Nottingham Forest pre-season begins – possibly with three Botafogo signings already on board.
Until UEFA rules, speculation will keep swirling. But whether you see Forest’s move as righteous whistle-blowing or a bit of friendly fire designed to reshape Palace’s ownership, the Marinakis–Textor axis now stretches from Rio to Lyon to London and Nottingham.
