And Tottenham hope to use the funds from the potential sale of the Togolese forward on a £15m bid for Brazil international Paulinho.
The Corinthians star has emerged as a target for Andre Villas-Boas in recent weeks, but the north London club face competition from Roma and Inter Milan.
As a result they may be forced to pay up to £18m for Paulinho - the midfielder's minimum fee release clause.
To afford that, several Spurs fringe players may be let go. Scott Parker and Tom Huddlestone would reportedly be surplus to requirements if Tottenham pursued Paulinho, while Spurs would listen to offers for Adebayor.
Despite interest from Italy, the report claims Paulinho favours a move to the Premier League.
And Corinthians deputy director Dulio Monteiro Alves confirmed Tottenham's interest in the player, but admitted it remains informal at this stage.
"[Tottenham] is a club that we know has an interest, but nothing official yet," said Alves.
"Of course it will come. We expect it in the coming days. Our intention is to keep him but let's wait and see; if it's good for him, good for the Corinthians, we will make a decision."
The Brazilian international is not expected to make a decision over his future until after the Confederations Cup.
Adebayor is one of Tottenham's highest earners, and the report claims his transfer would make it easier for Spurs to secure some of their top targets.
Fenerbahce attempted to sign the Togo international when he was at Manchester City, but the Turkish giants have revived their interest after failing to land Benfica star Oscar Cardozo.