"Giles has made it clear he wants to play in the Premier League again and this is a great opportunity for him to do that," Clough told his club's official website.
"It's something that came up yesterday and I am comfortable to give the player the chance to speak to them.
"To be honest it is a very good deal for all parties involved and I wouldn't have agreed to it if I didn't believe it was in the best interests of Derby County.
"Giles is a terrific lad with a big future ahead of him and we all wish him well if the deal goes ahead."