"Obviously it would be a great disappointment to lose Kev, he's a great pal and I think he's done fantastic for the football club, but this is the game we're in unfortunately," he told Sky Sports.
"Sometimes it's a little about ships in the night. Me and Kevin will remain great friends beyond the boundaries of football for the rest of our lives, for the experiences we shared at the football club.
"As I say, hopefully the move breaks down, but if it doesn't then you have to believe in the process of the football club and no one player is bigger than the football club.
"It's not really for me to say how much Kevin Nolan will be missed.
"He would be a massive loss to any club to achieve what he's achieved in three years.
"I don't know if I'm speaking a little bit untoward, but he's achieved iconic status at the football club, not only for his three goals against Sunderland in the derby, but just for the way he held himself in and around the city and for the season he had in the Championship and also for the season he had last season, being able to bounce back, and I think he scored 12 Premier League goals which is a phenomenal achievement in any side, never mind a side that's fighting for its life as we were for long parts of that season."