According to Portuguese outlet Record, Al-Hilal are ready to offer Pereira a significant salary package to take over at the Saudi club, where they are seeking a replacement for Simone Inzaghi following a season in which the Italian won the Saudi Pro League runners-up spot, finishing two points behind Al-Nassr.
Pereira arrived at the City Ground in February as Forest's fourth permanent manager of a chaotic 2025-26 season, following the exits of Nuno Espírito Santo, Ange Postecoglou and Sean Dyche. He signed an 18-month contract until the summer of 2027.
His impact was immediate. Nottingham Forest were 17th in the Premier League and three points above the relegation zone at the time of his appointment. Over 18 games under Pereira's management, they won eight, drew five and lost five — a run that secured Premier League survival and included a remarkable sequence of ten matches without defeat. The club also reached the Europa League semi-finals, where they were eliminated by eventual winners Aston Villa.
Forest have since opened formal contract extension talks with Pereira and the manager is actively involved in planning for next season, according to Sky Sports News. The club's hierarchy and players are described as "thoroughly impressed" by his methods and manner.
Al-Hilal's interest places that renewal in a more complex landscape. Pereira knows the Saudi Pro League well — he managed Al-Ahli from 2013 to 2014 and Al-Shabab from 2023 to 2025 before his move to Wolverhampton Wanderers and subsequently Forest. A third Saudi stint at one of the league's biggest clubs would come with significant financial reward.
Whether that prospect is enough to draw him away from a Premier League project that he has only just started building is the question Forest need to answer before the window opens.