The former Brentford and Swansea manager was placed in caretaker charge at the City Ground following the dismissal of Dave Bassett this week. Ron Atkinson is the favourite for the post in the long term - but Forest's England midfielder Steve Stone has urged the club's board to consider Adams.
Adams insisted yesterday he is not interested in the position permanently. "I don't want the job and I won't be applying for it," he said. "It's flattering of Steve to suggest I should be considered but I'm just keeping the seat warm for whoever takes over."
However, Stone backed Adams by saying: "I think he should be given the job until the end of the season. He's a good motivator, a good coach and he has the respect of everybody in the dressing room."
Wolves have denied reports they were set to make a move for Bassett. The club had been linked with him late last year, while he was still in charge at the City Ground, before they appointed Colin Lee in succession to Mark McGhee.
John Richards, Wolves' managing director, said: "These stories are completely untrue. There has been no contact between ourselves and Dave Bassett, nor is there any planned. Colin Lee was offered and accepted the post of team manager at Wolves until the end of the season, and there is no intention to change that."
Wolves hope to complete the purchase of the Norwegian international striker, Havard Flo, from the German Bundesliga club Werder Bremen for pounds 700,000 today. Benfica's Swedish forward, Martin Pringle, is expected to join Charlton on loan today.
Both Robbie Fowler and his club, Liverpool, have insisted they are still in negotiations over a new contract. Responding to reports that talks had broken down, the England striker said: "I have not turned down any contract. I am still in negotiations with Liverpool."
The Anfield press officer, Ian Cotton, said: "There are on-going discussions with the player, and we expect to meet Robbie and his adviser in the near future."
Bolton have completed the pounds 800,000 transfer of the utility player Paul Warhurst from Crystal Palace, while the Dutch left-winger Willem Korsten has finalised his move from Vitesse Arnhem to Leeds on loan for the rest of the season.
The Inland Revenue has issued a High Court winding-up order claiming unpaid tax of pounds 435,000 from the struggling First Division club, Portsmouth.