The 41-year-old shot-stopper had been tipped to return to his former club, and new Blackburn Rovers boss Henning Berg had reportedly offered Friedel a player-coach role at Ewood Park.
But Tottenham boss Andre Villas Boas is thought to be hesitant to lose Friedel, even though he still has Gomes, Carlo Cudicini, and £8m signing Hugo Lloris.
The American international started the season as Tottenham's number one, but Lloris got the nod for the north London club's recent derby defeat to Arsenal.
And the Daily Mirror reports Friedel is now ready to concede the France international will be Tottenham's first-choice, after his impressive performance in the Europa League against Lazio on Thursday evening.
The report claims Blackburn have been in talks with Spurs over a possible transfer that would see Friedel join the Championship club on loan until January, before making the move permanent when the transfer window reopens in the New Year.
But despite Tottenham knocking back Blackburn on this occasion, Henning Berg is expected to go back in for the US keeper in January.
The promotion hopefuls are confident that Friedel can be convinced the join the club with the promise of a coaching role, and an opportunity to return to the north-west of England.