The 19-year-old is a reported target for some of Europe's top clubs, but the Reds are believed to be preparing a seven-figure raid on their Championship rivals.
"He is a player on our list. The recommendations have been given to the acquisitions panel and we now wait to see what happens," said Forest boss Billy Davies.
"There is nothing else I can report yet. But I think we do need a wide left player and he is a young player with a lot of potential."
Davies, who is hoping to extend Nicky Shorey's loan spell from Aston Villa, is also keen to turn Radoslaw Majewski's loan from Polish club Polonia Warsaw into a permanent deal.
And the Scot revealed Forest are also on the trail of a player who has not yet been publicly linked with the club.
He added: "We are in negotiations with regard to Raddy and there is somebody else we are looking at who we have not been linked with yet."
Source: Team Talk