Forest (in red shirts) could qualify for the Champions League from the Championship league.
Forest currently sit 16th in the Premier League, just five points above the relegation zone with four rounds remaining. The risk of relegation to the Championship is very real.
At the same time, the English representatives made a strong impression in the European arena. They had just defeated Aston Villa and opened up the opportunity to advance to the Europa League final.
However, winning the Europa League wouldn't save Forest from relegation if they finish the season in the bottom three. In that case, they would become unprecedented in history, playing in the Championship and qualifying for the 2026/27 Champions League thanks to the Europa League winner's spot.
This scenario entails a grueling schedule. Forest will have to compete in 46 matches in the English Championship, alongside the Champions League, FA Cup, League Cup, and even the UEFA Super Cup and FIFA Intercontinental Cup. The pressure on physical fitness and squad depth is an extremely difficult challenge for this team.
Financially, relegation cost Forest around £80 million in television rights revenue. However, prize money and revenue from the Champions League helped them balance their budget to some extent, although it couldn't fully compensate for the loss of the Premier League's appeal.
In the history of English football, no team has ever been in a similar situation. The most recent instance was in 2013, when Wigan Athletic were relegated but qualified for the Europa League after winning the FA Cup. However, Forest's case would be far more extraordinary if it were to happen.