Tottenham Hotspur are prepared to return for the England international with a bid in the region of £125m in the January transfer window, according to a report from CaughtOffside. No other major outlet has matched the figure so far, and the story sits firmly in the rumour column.
Any January approach would land in a very different landscape from the one Tottenham walked into in July 2025. Forest wrote to Spurs and Gibbs-White’s agent that month, putting them “on legal notice” over what the club described as an unlawful approach and a breach of confidentiality around a release clause in the player’s contract. Tottenham’s £60m offer collapsed and Gibbs-White signed a fresh Forest deal running to the summer of 2028.
Forest’s £116m Anderson cushion
The reason Forest can turn January bids away comes down to one transfer. Manchester City agreed a fixed £116m fee for Elliot Anderson at the start of July, a British record announced by both clubs at the time. That windfall has removed the need to cash in on another senior player, and the club is expected to reject any January move for Gibbs-White and keep him at the City Ground until at least the summer.
That does not mean Forest have the luxury of waiting forever. Gibbs-White’s contract will be inside its final two years when the window opens, and if he refuses fresh terms he will enter next summer with only 12 months left. For now, the leverage sits with the selling club, not with Spurs.
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Crisis at Tottenham
The reported interest lands at a bleak point in Tottenham’s season. De Zerbi’s side have taken two points from their opening five Premier League matches, their worst start to a top-flight campaign since 2008/09, and they are on the longest winless run in the division. A 3-2 home defeat to Aston Villa on 19 September, with Conor Gallagher and Jan Paul van Hecke on target for Spurs, left them without a league victory this term.
De Zerbi was appointed head coach in March 2026, taking over after Thomas Frank’s February sacking and a caretaker spell for Igor Tudor. He has publicly identified attacking rhythm as the side’s central problem, and Gibbs-White, capable of playing as a No.10 or advanced midfielder, is being briefed as the profile Spurs believe would fix it.
The CaughtOffside figure of £125m is the headline, but it is not a bid. Tottenham resume their Premier League campaign against Manchester United after the international break, still searching for a first league win under De Zerbi.
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