O'Neill, 64, has guided Ireland to this summer's European Championships after beating Bosnia and Herzegovina in the play-offs, but confusion surrounds his future.
O'Neill has yet to sign a new contract with the FAI to prolong his stay, prompting some speculation around where he could be managing after Euro 2016.
The Daily Mail report that Nottingham Forest are keen to make O'Neill their new manager, to the point where he is now their number one target to replace Dougie Freedman.
Freedman left Forest last month after a poor run of results, and O'Neill - who played almost 300 league games for Forest - is unsurprisingly being touted as a possible replacement, with Paul Williams only in charge until the end of the season.
O'Neill hasn't managed a club since leaving his role as Sunderland manager back in March 2013, but having had some success with Celtic and Aston Villa, he could be tempted back to the club scene after almost three years in charge of Ireland.
O'Neill has in fact been asked about a possible move to Forest, and as quoted by the Daily Mail, he said that he doesn't know what the future holds, but isn't shocked by the rumours considering his history at the City Ground.
"I can't speak for him, and possibly can't even speak for myself either," said O'Neill, also discussing the future of his assistant Roy Keane. "All my concentration is on what's ahead in the next couple of weeks. There's always going to be a bit of speculation and probably because I played for Forest, and Roy had some interest from Celtic the last time around before the manager got the job," he added.
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