Reid was given a reasonable reception at the JJB Stadium by the Forest faithful and Joe Kinnear would love to keep his prized asset.
He said: "I am desperate to keep Reidy and when this has all blown over I would like to talk about a new contract. He's got two years remaining on his present deal but I'd like to offer him another four years.
"Reidy is disappointed that he's not playing in the Premiership but I don't want him to go. If nobody comes up with at least £5m then he will be staying."
Spurs are turning their attentions to Liverpool's £3m-rated Danny Murphy who can play on either side of midfield and Manchester United manager Alex Ferguson has kept his hands in his pockets after a phone call to Kinnear last week. Kinnear suggested Reid would be an ideal replacement for Ryan Giggs when his time is finished at Old Trafford.