"I don't even understand why we would consider loaning Jordan," he bluntly stated today.
Both Forest and Derby were apparently hoping to bring Rhodes in on a loan deal to strengthen their respective promotion pushes this season, but it seems that their ambitious plans will come to nothing.
The transfer always appeared unlikely, considering Rhodes' importance to Blackburn, but to have it entirely written off is sure to be a blow to the East Midlands rivals closely monitoring his situation.
Derby and Forest could reignite their interest in the summer, though, especially if they are able to make it into the Premier League.
Neither of the Midlands clubs are likely to be able to afford Rhodes on a permanent deal if they remain in the Championship, but the potential windfall they could land from promotion would provide them with the funds required.
At the moment Derby look the more likely to make it into England's top-tier, but Forest are on a good run of form and if they can somehow bridge the gap to the play-offs, then they will go into them full of confidence.