Spurs are close to agreeing a deal with another team.
If add-ons are met, the final fee for the full-back could be as high as 20 million dollars.
Sky Sports News reporter Mark McAdam says that the 21-year-old could have joined Steve Cooper's side on a permanent deal this summer. We know that Spurs are desperate to sign him, and that he wants to play for Antonio Conte in the premier league.
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Sky sports' Dan Long.
By the beginning of last season, Djed had set his sights on becoming a mainstay of the team. He made 60 Championship appearances before his 21st birthday.
But then, seemingly out of the blue, he was shipped out on loan to a division rival, with the right-wing-back being used by Neil Warnock. He was at the City Ground.
He impressed Reds fans with his attacking intent, crossing ability and penchant for a shot from distance, but also proved he is not a one-trick pony with some impressive defensive showings, too.
It was during the run to the FA Cup quarter-finals that he began to get the attention of a number of teams in the English top flight.
It has to be said that the loan spell could not have gone better for him. The England U21 setup was broken into by him.
In the wake of Forest's play-off final win over Huddersfield in May, Spence took a picture of himself in the Wembley changing room, a cigar in his mouth, a scarf around his head, seemingly aiming a dig at his former manager.
"Well done, Djed, I said you were a non-leaguer," he said. Thanks for listening and taking my advice, now you can enjoy your success.
As career advice, something that started out as a reality has become a reality for Spence, as he is set to start in the premier league in two years.
The transfer window will close at 11pm on September 1st.
Sky Sports has a dedicated Transfer Centre website where you can keep up-to-date with all the latest news. Sky Sports News gives you the ins, outs and analysis of sports.