Atletico Madrid are allowing Brazilian left-back Renan Lodi, 24, to leave the club before next week's deadline.
He was heading to Nottingham Forest on Friday but talks over a loan move hit a hitch and the deal has now stalled.
Lodi has been considered by Manchester City and others this window but his capture would have been huge coup for Forest.
He was a key part of Atletico's team last season, having made 42 appearances across all competitions last season.
However, the defender looks to have fallen down manager Diego Simeone's pecking order this term as he has been an unused sub in both LaLiga games this season.