According to Football Insider, Dennis is one of the players Nottingham Forest would like to trade this summer.
The Nigerian had a tremendous reputation when he arrived at the City Ground last summer, having scored 10 goals and assisted on six others in 33 league games for Watford the previous season.
The 24-year-old played in 25 games for Nottingham Forest, although he only contributed two goals and three assists.
The transfer from Watford to the Reds reportedly cost €20 million.
They hope to get a good price for Dennis when they sell him.