Karembeu worked with new Forest investor Evangelos Marinakis at Olympiakos.
The 45-year-old is a well-known footballing figure, having played for Real Madrid and Middlesbrough among other clubs.
The Frenchman won the Champions League twice with Madrid, and he also helped Olympiakos win the Greek championship in 2002 and 2003.
Karembeu was part of the France squad that won the World Cup in 1998 and the European Championship in 2000.
The former France international has extensive knowledge of players, and Forest’s (reported) move to take advice from him regarding potential summer signings is good.
However, the key for Forest at the moment is to appoint a new manager.
The players are set to return to pre-season training, and it is not a good situation that they have no manager in charge of the team at the moment.
The Reds are one of the biggest clubs of England, but they have become also-rans in the Championship in recent years.
Forest will probably be aiming to finish in the top six of the Championship next season, but they may not even end up in the top 10.