Neil Warnock is the latest name to enter the frame after he turned down the opportunity to remain as Rotherham United boss.
That comes after last week's speculation linking Tommy Wright of St Johnstone and Spanish legend Michel with the job.
As talk of new investment also remains in the air, Forest are set to be one of the final Championship clubs to announce their retained list details.
With Paul Williams having departed the club following his temporary spell in charge, it remains to be seen who will have the final say on those players who will shortly be out of contract at the City Ground.