The Rams previously offered the National League leaders £30,000 for the striker, and while that bid was knocked back by Cheltenham, the Sun suggests that an agreement may not be far away.
If the Championship side can pull off a deal for the 16-year-old, it could well represent something of a coup. BBC Sport reported last month that Premier League club Southampton were linked with a potential move for the youngster.
While Thomas is yet to represent the Robins in the league, he made his debut for the club this past weekend, featuring in Gary Johnson's men's 3-1 FA Trophy victory over Chelmsford City.
And with the club not due to play another cup game until mid-January, it may well be that Thomas has already made his final appearance for the team. Unless of course Johnson decides to risk him in the league, which seems somewhat unlikely given that they are fighting for an instant return to the Football League - as Derby may want to get a deal wrapped up before any rivals can swoop in.