The Tricky Trees are reportedly looking to add another Greek to their ranks.
Greece striker Nikos Karelis jumps for a header
It is claimed that Forest are prepared to spend €7 million (£6 million) on Karelis, which would exceed their current highest outlay - £5.5 million for Britt Assombalonga - by £500,000.
Karelis, who had a trial at Arsenal as a 16-year-old, moved to Genk from Panathinaikos in January and has scored 10 goals in 18 games for the Belgians.
Then Panathinaikos striker Nikos Karelis (C) is challenged by Midtjylland goalkeeper Jacob Haugaard, now of Stoke City, during a Europa League fixture
His exploits are said to have drawn interest from Serie A side Bologna, however the two clubs were unable to agree a fee and Forest could pounce.
The Reds, who appointed former Real Sociedad boss Philippe Montanier last month, are reportedly in the midst of a takeover by Olympiacos owner Evangelos Marinakis.
Prospective Forest buyer Evangelos Marinakis (c)
Despite a protracted saga, the Greek's influence was recently evidenced by the signing of another Ethniki striker, Apostolos Vellios last month.
Forest recently emerged from an 18-month transfer embargo and a signing as substantial as Karelis appears unlikely in the absence additional investment.
Former Everton striker Apostolos Vellios became Forest's first summer signing last month