Multiple news platforms have reported that the Argentina international will cost Forest around £10 million.
However, Forest’s official statement confirms that Montiel has joined on an initial loan with the prospect of the deal becoming permanent.
Montiel becomes the fifth addition for Forest during the Premier League transfer window after Anthony Elanga, Ola Aina, Matt Turner and the permanent signing of Chris Wood.
The 26-year-old will add some much-needed quality and depth to Forest’s right-back position and is expected to slug it out with Serge Aurier for a place in the starting line-up.
“I’m really happy to have joined this club,” Montiel said.
“I’m coming here full of expectations, getting to play and showing what I can do. I’m also hungry to win things, to win trophies – now’s the time to show this.
“I’ve been watching the Premier League since I was a child. I used to watch every game. As a player, you want to play in the best league, and the Premier League is just that.”
Montiel arrives at City Ground with a CV some players can only dream of after winning the World Cup and the Europa League titles within six months.
The former River Plate man had the composure to slot home the winning penalty to secure victory for Argentina against France in Qatar and replicated the feat in the Europa League final for Sevilla against AS Roma.
His penalty-taking prowess was also evident in the UEFA Super Cup clash against Manchester City, but it wasn’t enough to secure a win as the treble winners emerged victorious.
Forest kicked off their Premier League campaign with a narrow defeat against Arsenal but rallied to victory over newly promoted Sheffield United last weekend.
They will hope Montiel’s experience can spur them on to greater things as they look to improve on last season’s 16th-place finish.
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