With the East Midlands club still stuck in the torrid conditions of a transfer embargo after breaking Financial Fair play regulations, this January won't be a transfer window for Nottingham Forest fans to get overly excited about.

Dougie Freedman can only sign players on loan or free transfers but with an already full squad of players, there will have to be outgoings if Forest are to sign some players this January.

The Reds have had a reasonably poor season so far, sitting in a mediocre 16th spot, but they have shown glimpses of what they are capable of, after recent impressive wins over Derby County and Reading.

With a few key players set to return after long term injuries, if Forest could sign some of these players, it could help them make an unexpected push for the play offs.

FLW's Harry Webster selects FIVE players that could take Forest to the next level.....

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PRESS THE IMAGE BELOW TO SEE THE FIVE PLAYERS!

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Jonny Williams

The Welsh midfielder is currently enjoying a loan spell at the City Ground and has put in some high quality performances for Dougie Freedman's side, most notably in their 1-0 win against rivals Derby County.

However, Williams' loan spell finishes on the 16th January and if the Reds were to extend his loan deal to the end of the season it would certainly help them reach the next level.

The Welshman is attempting to rekindle some form and build his fitness after struggling with injuries in recent seasons.

His creativity could be crucial in how Forest progress this season and by extending his loan deal it would be regarded as an astute piece of business by the club.

Alex Iwobi 

The young Arsenal forward has been attracting interest from a number of Sky Bet Championship clubs this season, and with Forest struggling for goals in some games, he could be the surprise package to help them climb up the table.

The 19-year-old is well thought of at the Emirates Stadium, already making one appearance for them as well as featuring for Nigeria at international level, despite representing England at most youth levels.

Iwobi, with exceptional technical ability and flair, has scored some impressive goals for the Arsenal under 21's and although he would be a risk, he could be a player who could take Forest to that next level.

Gary Gardner

With the return of key midfielders Chris Cohen and Robert Tesche imminent, a move for the former loanee seems increasingly unlikely.

Dougie Freedman has a wealth of talent at his disposal in the middle of the park with Henri Lansbury and David Vaughan forming an impressive partnership.

However, a move for the Aston Villa man would be welcomed by the Forest faithful after his passionate showings for the club last season, quickly becoming an integral part of the Forest midfield as well as a fans favourite.

Having Gardner would show an incredible amount of depth in the Forest midfield and would be an exceptional coup if Freedman were to make the move.

Patrick Bamford

Although Nelson Oliveira finally looks to have found his feet at Nottingham Forest and Britt Assombalonga set to return in the new year, signing Patrick Bamford would be an outstanding piece of business by Dougie Freedman.

Unrealistic? Probably. But the Chelsea forward has found chances very limited on loan at Premier League side Crystal Palace, and with the current champions indicating that they may recall him to allow him to move to a club where more first team opportunities are available, Forest could be the perfect fit for Bamford who was a vital player in Middlesbrough's commendable season in the last campaign.

Yoan Gouffran

Forest were linked with a move for the Newcastle United player back in September, with the Frenchman finding opportunities hard to come by at St James Park.

Wages would certainly be an obstacle for Dougie Freedman to overcome, but a player of Gouffran's ability has potential to make a huge difference to a team in the Sky Bet Championship.

The Magpies are currently in an horrendous run of form, so may want to hold onto Gouffran to enable them to make changes, however, if Forest did sign him, it could really propel them up the Sky Bet Championship table.

Nottingham Forest fans... Would you be happy if you were to sign any of these players? Do you disagree with any suggestions? If so, who would you like to see walk through the doors at the City Ground? Let us know your thoughts and opinions in the comments below!