Nottingham Forest would reportedly have to splash out more than £17m to sign Alex Moreno.
The Reds have already been busy in the transfer market. However, left-back is an area which remains in need of strengthening ahead of the Premier League campaign.
Forest had looked set to sign Huddersfield Town defender Harry Toffolo, as part of a double deal with midfielder Lewis O’Brien. But there is uncertainty over where both players stand, with the moves in doubt.