The striker has now agreed to the move and he will head to Nottingham to undergo a medical later this evening in the East Midlands.
Wood has played quite a bit of football this season; featuring in all of Newcastle’s Premier League fixtures this season.
A large number of those outings have come from the bench though. Now, with Callum Wilson and Alexander Isak fit, his chances would be restricted.
Percy is a reputable source of transfer gossip in the region and he’s now confirmed the deal.
There is an intriguing clause too. It’s claimed that Forest have agreed on an obligation to make the deal permanent; although it will be based on a series of triggers.
Furthermore, the fact that an obligation has been put in place, will leave another domestic loan spot free for another Premier League loanee to sign.
Wood has scored 54 goals in the Premier League across spells with Newcastle and Burnley.
He cost the Magpies £25 million a year ago. Last year he helped the team survive relegation from the Premier League.
Percy has provided an update on Nottingham Forest pursuit of Wood
Forest look to have got this one over the line and the obligation to buy him will naturally spark some intrigue among the fan base.
A new striker has been identified after the devastating news that Taiwo Awoniyi will miss two months.
Wood is an experienced performer and he knows what it takes to keep teams in the Premier League.
As a short-term option, many fans were on board but now supporters will face an anxious wait to discover what will trigger a permanent move.
However, this is a Steve Cooper signing. That will delight the fans and it would appear that he’s having plenty of say in the dealings.
Wood will hope to hit the ground running and having played plenty of football this season, he should be capable of exactly that.