Real Madrid have apparently lodged a bid believed to be in the region of £80-85 million in an attempt to secure the services of the award-winning Gareth Bale, however Spurs chairman Daniel Levy wants something closer to £100 million.
Should the north London club sell their most prized asset, they will have a gaping hole to fill with a lot of cash to do so.
Here, I am going to look at the potential transfer targets Spurs could be looking to sign for the coming season.
A great servant for Everton for a good few years now, but he must want to test himself at a higher level.
United have been credited with an interest and even a bid of about £12 million for the 28-year-old.
He has the experience and quality both in defending and attacking to play in any line-up in the Premier League - Spurs may miss the prowess Gareth Bale possesses from a dead-ball situation and Baines has shown on many occasions he can't half deliver a deadly delivery or curl in a free-kick from 25 yards.
Baines would be a definite step up from Benoit Assou-Ekotto, and this ones would end up being about whether or not Danny Rose will be given a chance to prove himself or whether he will be loaned out again to gain more experience.
As well as the asking price, at 28 he is pretty much at the peak of his powers but £15 million plus is still a bit much for someone who hasn't got a lot of European background, and won't be doing much improving from now on.
Big, strong, great ball control, eye for a killer pass, good in the air, excellent at holding up the ball - Fellaini pretty much has the package as far as a powerful midfield presence goes.
Can play in front of the back four or centrally just behind the striker. Still only 25, he could give a lot to the entire Spurs team for many years to come.
The price will probably be around £25 million, which represents a £10 million profit on the price Everton paid Standard Liege five years ago.
One of the most dynamic wingers in the Premier League on his day. Trouble is, he is renowned for being inconsistent - he hasn't been a regular to say the least in recent times under Sir Alex Ferguson, maybe the appointment of David Moyes may revitalise his career at Old Trafford?
If not, for a fee of around £17 million, the signing of Nani may be a great bargain. He can do unbelievable things with a football when he's on his game and working under AVB might just be the thing that kickstarts his career.
At 26, he still has plenty to offer.
The Brazilian centre-forward would be the perfect solution to solve the attacking weakness Spurs currently have.
The signing of Soldado will not be enough on his own, with Emmanuel Adebayor incredibly unreliable and Jermain Defoe injured more and more.
Damiao is only 24 and could adapt easily to the Premier League's physicality, but would cost upwards of £25 million.
The German defender has been consistently in the national set-up and is the captain at his club Schalke 04.
Still only 25, he can be a stalwart of the Spurs back-line alongside Jan Vertonghen for years to come.
A partnership that could, with the likes of Hugo Lloris in goal, provide the most stubborn defence in England.
He is also versatile and can play right-back and at a push left so would be able to fill any defensive gaps caused by injuries.
At £14 million, Howedes could be a wise acquisition for Villas-Boas. With the sale of Steven Caulker, Spurs are in need of a new dominant centre-half and he could be the man.
All these signings for the loss of Gareth Bale, surely that's a deal that would be ridiculous to turn down?
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