HITC Sport understands the Derby striker has agreed a loan move to Maccabi Tel Aviv.
Blackman left Sheffield United for Reading four and a half years ago and is now on the books of Derby County.
The controversial chairman has backed his managers regularly at Derby County, but not every signing has come off as hoped.
Derby County's Chief Executive reckons the club have spent wisely on players - but the evidence does not back him up.
Derby County are set to take on Nottingham Forest in Gary Rowett's first match in charge.
Derby County were beaten 3-1 by Leicester City in the FA Cup yesterday evening.
Derby County duo Ikechi Anya and Nick Blackman could reportedly leave the club in the January transfer window.
The Grimsby Town goal machine is reportedly on Derby County's radar after an excellent campaign in League Two.
The Derby County winger has been ruled out for up to six weeks with knee damage.
Having watched their side lose 2-0 at home to Derby, Cardiff City fans took to Twitter to voice their dismay.