Chelsea took the decision to sell the England international in September 2023 following a disappointing loan spell with Bayer Leverkusen.
Hudson-Odoi broke into the Chelsea first-team squad at the age of 17 and went on to make 126 appearances in all competitions for the club. He won the Champions League and Europa League during his time in West London.
The 23-year-old scored eight goals and provided one assist in the top flight last term, helping Forest avoid relegation and secure a 17th-place finish in the Premier League table.
His standout performances last season have attracted interest from multiple clubs, and it seems that the former Blues academy graduate might be on the move again this summer.
Forest set for big profit on Hudson-Odoi sale
According to The Athletic, Nottingham Forest could part ways with Hudson-Odoi during this transfer window and are seeking £40m for the talented winger.
If the Reds are able to receive their asking price, it would see the club pocket a substantial profit of £36.5m, having only paid £3.5m to bring the 23-year-old the City Ground last year.
The report adds that at least three clubs across Europe, including some from the Premier League, have already expressed their interest in signing the Englishman.
Spurs are one of the clubs that have been linked with a move for the player in recent weeks and are believed to be keen to secure a new winger as they continue to assess Timo Werner's future.
The German international largely failed to impress at Tottenham Hotspur Stadium during his loan spell since January, and there has been speculation that the club may opt not to exercise their buy-option this summer.
It is understood that Forest have stated they do not want to sell Hudson-Odoi despite setting a price tag.
However, it will be interesting to see if they change their stance on the matter if a suitable offer is made for the 23-year-old, given the Reds' widely reported financial challenges.
The attacker's current deal with Nottingham Forest runs until the end of the 2025-26 season.
Busy summer expected at Tottenham Hotspur Stadium
After his first full season in charge, Ange Postecoglou is expected to look to bolster his team this summer and has already added another midfield option to his squad for next season.
On Tuesday, the Lilywhites confirmed the completion of Archie Gray's signing from Leeds United in a deal believed to be worth between £25m and £30m.
Defender Joe Rodon has moved in the opposite direction, completing a permanent transfer from Spurs to Leeds after spending last season on loan at Elland Road.
The North Londoners are also believed to be looking to bring in a new striker in the offseason as a long-term replacement for Harry Kane, who moved to Bundesliga giants Bayern Munich at the start of last term.
Spurs have been linked with the likes of Lille striker Jonathan David and RB Leipzig attacker Benjamin Sesko in recent weeks.