Forest have been on the hunt for a new boss to replace Dougie Freedman for some time now.
Paul Williams was placed in caretaker charge towards the back end of last campaign, but he was dispensed with at the end of the season.
Forest were expected to make a fairly quick appointment this summer, but they are still, seemingly, not even close to finalising a deal.
Forest had originally gone after Gus Poyet, but he moved to Real Betis instead, and Al-Hasawi then had wished to put O’Neill in charge.
However, O’Neill has just signed a new contract with the Republic of Ireland, which is thought to have been a major blow for Al-Hasawi.
O'Neill had originally told Forest that he would not consider his future until after Euro 2016, but he appears to have outlined his commitment to Ireland now.
Forest are continuing their search for a new boss, with Oscar Garcia and Neil Warnock both still possible targets, according to the Post.