The Tricky Trees are set to make a double announcement this week, reports claim.
Progress is being made at The City Ground, it seems
The Post reports that Forest are finally in position to appoint their new head coach and aim do so before the weekend, with a proposed investment deal also close.
And the club will complete their first signing of the close season on Wednesday, according to the Sun (page 54).
Spanish trio Michel, Julen Lopetegui and Victor Sanchez are listed by the Post as the three front-runners to replace Dougie Freedman, while the Sun reports that former Everton striker Apostolos Vellios will arrive today in a £900,000 deal.
Vellios is set to fill the void vacated by Nelson Oliveira
Michel was previously in charge of Greek champions Olympiacos, whose owner Evangelos Marinakis is in talks to acquire an 80 per cent stake in Forest, while Sanchez assisted his fellow countryman at the Georgios Karaiskakis Stadium as well as Getafe and Sevilla.
Reported Forest candidate Michel
The 40-year-old has also worked as a manager in his own right, but was sacked by Deportivo La Coruna after just one season.
Lopetegui, on the other hand, coached various Spanish youth sides before moving on to Portuguese giants FC Porto.
Former Porto head coach Lopetegui
Forest recently hired Portuguese director of football Pedro Pereira, who was employed by Braga during Lopetegui's spell in the Premeira Liga.
Vellios, who plays in Greece with Iraklis, scored 13 goals from 32 appearances last season.