According to The Athletic, Richards is set to undergo a medical with Forest on Friday. The Premier League club and Bayern have reached an agreement over a €8.5 million plus add-ons deal for the 24-year-old.
Richards rose through the youth ranks at Reading before debuting for the Championship club during the 2017-18 campaign. He made 104 appearances for the club before joining Bayern Munich on a free transfer last summer.
The England Under-21 international made 17 appearances for the Bavarians giants across competitions, including just 12 Bundesliga games. He was their third-choice left-back, behind Alphonso Davies and Lucas Hernandez.
Richards now looks set to join a Nottingham Forest side that will play in the Premier League for the first time in 23 years. Forest have wasted no time this summer to bolster their ranks, signing Taiwo Awoniyi, Moussa Miakhate, Ginaluca Biancone and Dean Henderson.
Liverpool defender Neco Williams could join Bayern Munich's Omar Richards at Nottingham Forest
Nottingham Forest look set to complete the signing of Liverpool right-back Neco Williams after completing the acquisition of Bayern Munich left-back Omar Richards. As per BBC Sport, the club have reach an agreement with Liverpool over a £17 million deal for Williams.
The Welshman rose through the youth ranks at Liverpool before being promoted to the club's first team during the 2019-20 campaign. He joined Fulham on a six-month loan deal in January after being starved of game time during the first half of the season.
Williams scored two goals in 14 appearances across competitions, helping them win the Championship and gain promotion to the Premier League.