Miguel joined the Reds in the summer of 2024 from Corinthians, playing three times in his debut season in England across all competitions.
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He now heads back to his homeland, joining 18-time Série A champions Palmeiras, who currently sit third in the Brazilian top flight.
Forest have raised €6m from his sale.
The 26 year-old has signed a deal with Palmeiras to 2030.
