A Guardian article claims Al Hasawi, who has said he is close to selling the club, wants wages that could rise to £1m a year, as well as bonuses.
A United States consortium is on the verge of a £50m deal, which would see Al Hasawi retain a 20% stake.
Al Hasawi said "the information published was inaccurate".
"The terms of any potential investment deal are, and will remain, confidential and the club will not be making any comment in relation to this issue," a statement on the club website continued.
"The matter has now been passed to my legal team, as such it would not be appropriate to comment further at this time."
The takeover would see millionaire John Jay Moores, the former San Diego Padres owner, take an 80% stake in Forest.
Nottingham Forest owner Fawaz Al Hasawi has denied reports he is demanding a large annual salary and huge bonuses as part of any takeover deal.