Savona had been viewed as a sensitive potential target for the Bergamo club should Raoul Bellanova leave this window, with Atalanta sporting director Cristiano Giuntoli a long-standing admirer of the 23-year-old, having overseen his promotion from Juventus' Primavera to the first team alongside then-coach Thiago Motta two years ago.
The picture now looks clearer: Savona is set to stay in England, while Bellanova appears to be off the market for now. Savona moved to the Premier League a year ago and has performed solidly in his 20 appearances for Forest, 14 of them in the top flight, contributing two goals along the way.
Question marks over his time in England have centred less on ability and more on fitness, with the defender not always able to stay available over the past year.
A departure this summer therefore looks unlikely unless a broader chain of transfers begins to move, though recent reports in Italy suggest Atalanta have continued to intensify contact with Forest over a possible deal, leaving some uncertainty around how firm Forest's stance ultimately proves to be.
The full-back has been on Atalanta's radar since late May, when the club first identified him as an ideal fit for Maurizio Sarri's four-man defensive line.
Reflecting on his move to England some months ago, Savona spoke warmly of the adjustment to Premier League football.
"It's even more beautiful. There's a completely different style compared to Italy and a special, unique atmosphere. In England there's less tactical caution and more intensity, it's a constant back and forth: anything can happen at any moment.
"Serie A remains a difficult and important league, a top-class competition — last season was fundamental for my growth."
Savona came through Juventus' academy before making his senior breakthrough under Thiago Motta, going on to make 40 appearances for the Bianconeri across Serie A, the Champions League and the Club World Cup before his move to the City Ground last summer as part of the club's rebuild under new ownership.