As announced on Forest’s official website on Friday, Karanka asked to be released from his contract as the manager of the Reds, and the Championship club agreed to his request.
It has been reported by The Daily Mail that Marinakis requested the former Middlesbrough manager to stay during discussions on Thursday.
Karanka did well during his time at Forest, with the Reds still very much in the running for the Championship playoffs this season.
Forest now have to move on and appoint someone who knows how to get promoted to the Premier League.
According to The Daily Mail, Slavisa Jokanovic, Carlos Carvalhal and Martin O'Neill are the candidates for the Forest managerial role.
Jokanovic will be a good choice, given that he guided Watford and Fulham to promotion from the Championship.
Carvalhal will not be a bad appointment either, given that he has been successful with Sheffield Wednesday.
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