Forest chief executive Mark Arthur told the club's official website: "We rejected Tottenham’s offer of £5 million for Andy in January, so I don’t know what now makes them think we would be willing to do business at £3 million."
Reid criticised chairman Nigel Doughty in a Sunday newspaper as was reported by ForestMAD prompting the London club to test Forest's resolve once again.
Reid is another graduate from the Youth Academy that has seen the likes of David Prutton and Jermaine Jenas ply their trade in the Premiership.