The summer signing is wanted by former prospective Forest owner Evangelos Marinakis.
The Greek businessman was heavily linked with a bid for Nottingham Forest over the summer.
Juan Jose Lorenzo is being tipped to follow Olympiakos president Evangelos Marinakis to The City Ground.
Michel could follow his former Olympiakos owner Evangelos Marinakis to The City Ground, a report claims.
The deal could include shirt sponsorship and a possible rebrand of The City Ground.
Dimitris Diamantakos is wanted by Championship sides Leeds United, Sheffield Wednesday and Nottingham Forest, a report claims.
Nottingham Forest have slipped to 20th in the Championship since sacking Dougie Freedman.