As The Star revealed nearly a fortnight ago, Forest confirmed they were willing to pay £1.5m for Lowe during the January transfer window before being quoted a figure of £5m by United’s hierarchy.
They subsequently returned with an improved proposal, thought to be in the region of £2m, despite describing their first offer as ‘final’. That was again rejected by Paul Heckingbottom’s employers, who have since indicated Lowe’s valuation has risen again after he helped Forest win promotion from the Championship during his season long loan at the City Ground. United were beaten on penalties by Steve Cooper’s side in the play-off semi-finals, with Forest going on to reach the Premier League.
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The hardline stance negotiators acting on United’s behalf adopted throughout their talks with Forest might have “scared off” Cooper according to one figure involved in the process, with no more discussions being planned. However, United will be aware that Arsenal adopted a similar tactic during their pursuit of Aaron Ramsdale nearly 12 months ago - indicating other targets were actively being considered before eventually capturing the goalkeeper for a total fee of around £26m.
Olympiacos are trying to exploit the uncertainty surrounding Lowe’s future by entering the race for the 25-year-old. Intriguingly, the reigning Greek title-holders are also controlled by Forest owner Evangelos Marinakis although the media and shipping magnate runs both clubs as two distinct entities. Like Forest, their valuation of Lowe also falls below the one calculated by United.
Previously of Derby County, Lowe and Jayden Bogle moved to South Yorkshire for a combined sum of £4.25m in September 2020. Bogle, who is set to miss the start of the new campaign due to injury, eventually flourished after making a low key start to his career with United. But Lowe has struggled to command a regular place in their starting eleven, and was allowed to join Forest at the beginning of last season. He has now returned to training with United, who face Portugese outfit Casa Pia in a friendly next week.