Dennis is currently on £4m a year after arriving from Watford for around £10m in August 2022. Dennis has struggled since joining Forest and has not been used by Nuno Espirito Santo at all this season.
His last game for Forest was way back at Crystal Palace in May 2023 and with just 18 months left on his contract, Nuno is desperate to sell him this month to free up finances to use towards adding more talent to a side who are currently in the title race.
There are talks with Watford but his former club cannot afford his wages whilst Sheffield Wednesday are also interested but reports suggest their bid is far from what Forest expects.
Dennis is currently in his prime at 27 years old and will likely have to sign a deal elsewhere if he wants to find game time in the second half of the season.