Nottingham Forest have submitted an improved £17.5m bid for Feyenoord right-back Read, continuing a summer of aggressive spending under owner Evangelos Marinakis that has also seen the club move for Sporting CP's Ousmane Diomande and Everton striker Beto.
Read, 20, has established himself as a regular for Feyenoord since breaking through from the club's academy, making 54 appearances and contributing five goals and 10 assists, form that has also earned him call-ups to the Netherlands Under-21s.
Manchester City have also tracked his progress, but it is Forest who have moved first with concrete bids, having already seen an earlier offer for the versatile full-back rejected by the Dutch club. Oliver Glasner is keen to add competition at right-back following an injury-hit season for Ola Aina, with Read able to play on either flank in a similar way to Neco Williams.
Nottingham Forest are simultaneously working on a deal worth around £35m for Diomande, a move that would represent the club's most expensive defensive signing, as the Ivory Coast international emerges as a long-standing centre-back target finally coming to fruition after previous interest from Arsenal and Newcastle.
The club are also weighing up a move for Beto as they continue searching for attacking reinforcements following the £116m sale of Elliot Anderson to Manchester City, funds the club are reinvesting heavily across multiple positions this summer.
Forest are also expected to return with an improved £45m bid for Tottenham midfielder Lucas Bergvall, having already seen an earlier offer of £38m turned down by Spurs. Bergvall has made clear his desire to leave north London in search of regular first-team football, though Tottenham are demanding a significant fee before sanctioning his departure, leaving Forest to decide how much further they are willing to go to complete a deal that would represent one of the more eye-catching pieces of business in this summer's transfer window.
Should all four deals eventually be completed, it would represent one of the most active single transfer windows in the club's recent history, underlining the scale of Marinakis's ambitions as Forest look to build on last season's European qualification.