Aston Villa are launching a £10 million bid for Tottenham striker Jermain Defoe.

The Mail on Sunday says Villa are preparing a £10 million deal, with manager Martin O'Neill looking to secure the player he has wanted before and increase his side's prospects of breaking into the top four and claim a place in the Champions League.

Portsmouth owner Sacha Gaydamak is hoping for some much needed cash from the sale of Defoe, despite the income made through the sale of Lassana Diarra to Real Madrid. Pompey needs to sort out its finances if it is to keep the club going.

Defoe is in demand as former Portsmouth boss Harry Redknapp is also wanting to bring the player back to Spurs. It is being investigated at the request of Redknapp as to whether Defoe can resign for the club after being sold last February.

Rules state that he cannot return to the club within a year, but that may not be the only problem for Redknapp as Spurs are reluctant to pay more than the received for him. Redknapp signed Defoe for £7.5m, so Villa could do well to outbid them.