Gibbs-White, who moved from Wolves to Forest, has been a key man for Forest in recent years, as they battled for a spot in Europe.
It seems though his days at the City Ground could be set to end - with Spurs in for the midfielder.
Reportedly, the deal was set to be worth £60m and was moving at pace, with an announcement expected soon.
However, according to multiple reports the deal is now off as it stands.
Forest have stopped contract with Spurs and have been in contact with their lawyers over the proposed move.
They are instructing lawyers and working on potential legal action as they believed Spurs made an illegal approach to the player, according to Sky Sports.
It comes after Wolves were set to receive a windfall from the sale of their former midfielder.
When Wolves sold Gibbs-White to Forest, they inserted a ten per cent sell on clause into the deal. The clause is linked to any profit Forest make on the player.
That means should a deal go through they would receive a decent fee - however that now looks in doubt.