As per the report, Newcastle United, West Ham United and Arsenal are all also interested in the attacking midfielder, but Forest are now set to compete with their fellow top-flight clubs for his signature.
However, a new update from Fabrizio Romano suggests that a spanner could have been put in the works for the Reds, as West Ham have submitted a second offer for the player.
The Italian tweeted: “Lucas Paquetá agents, in London to discuss with West Ham after new bid submitted. There’s still work to do on club’s side – West Ham want to push for Brazilian star.
“Paquetá dreams of Premier League football – but agreement has to be reached with OL president Aulas.”
With Paqueta’s agents already in London to discuss deals with potential suitors and West Ham pushing for his signature, Forest owner Evangelos Marinakis must act fast to secure a deal for the player before another club gets there first.
It comes as no surprise that the Brazilian is the subject of so much attention in England, as he has been a standout performer in an advanced midfield role for Lyon.
Compared to his positional peers in the top five European leagues over the last 12 months, Paqueta ranks in the top 1% for tackles, top 10% for aerial duels won, successful pressures and progressive passes received and top 15% for total shots and clearances.
The 24-year-old – who was dubbed “extraordinary” by his manager Peter Bosz – scored nine goals, delivered six assists and created nine big chances in 2021/22. He made 1.2 key passes and won 7.3 duels per game, while also successfully completing 69% of his dribble attempts, proving that he is a top-quality attacking threat.
Indeed, Forest have already signed Morgan Gibbs-White and Jesse Lingard this summer, both of whom play in a similar role to the Lyon star. However, considering the quality of Paqueta, it would be an ambitious statement set if Forest could seal a deal for the player, who comes with a reported price tag of €50m (£42.1m).
If Marinakis can beat Forest’s Premier League competitors to the signing of the Brazilian, it would be a massive coup and a big statement as to their intent to retain their top-flight status and challenge comfortably at this level.