Valencia are inviting offers for winger Pablo Hernandez.
The People says the Spanish side have decided against selling Juan Mata - a Manchester City target - but will cash in on Hernandez at the right price.
Spurs will put together a bid at the end of the season if they have qualified again for the Champions League.
Their scouts have watched Hernandez this term and the reports have been positive, prompting manager Harry Redknapp to give the go-ahead.
Valencia want about £12million for the 26-year-old - a figure Tottenham would be happy to pay if they secure a top-four finish for a second year running.
Friends in the Valencia squad have been ribbing their team-mate after spotting him with an English textbook.
