HITC Sport understands that former Leicester City boss Nigel Pearson is the preferred option for chairman Fawaz Al Hasawi.
Sources have confirmed to HITC Sport that Freedman's days at the City Ground are numbered and Forest's hierarchy, led by Fawaz Al Hasawi, are already looking at replacements, with it likely that defeat in Friday’s much-anticipated clash with East Midlands rivals Derby County would force an axing before the weekend.
Since taking charge of Forest in the summer of 2012, the Al Hasawis are already onto their sixth manager in their tenure.
However, Freedman - appointed in February, taking over from Stuart Pearce - has failed to dramatically reverse their current fortunes, as they sit in the bottom half of the Championship table.
Now HITC has been told that Al Hasawi is already putting plans in place to make changes, and former Leicester City boss Pearson is top of his list.
Nottingham-born Pearson's stock is high, having left the Foxes in the summer - despite the fact he led them on a wonderful run in the second-half of the season which saw them escape relegation, and many feel their current run is in no small part down to him.
Despite strong links with a number of Premier League jobs of late, it is believed that the Forest project would appeal to Pearson.