The Anzhi Makhachkala playmaker has been heavily linked with a move to the Premier League, after news broke of the Russian club's intentions to make major cutbacks this summer.
The Brazil international almost moved to England from former club Shakhtar Donetsk in the January transfer window, but Anzhi saw off competition from a host of rival suitors to secure the player's signature in a £31million deal.
Spurs were one of the sides interested in signing Willian at the turn of the year, and Andre Villas-Boas remains keen to bring the South American to White Hart Lane before September 1.
Anzhi owner Suleyman Kerimov is determined to make a profit on a player he signed to a long-term contract less than 12 months ago, with £35million the new figure being touted to activate his sale.
Tottenham will only meet that valuation if they receive a lucrative sum from the impending sale of Gareth Bale, while Liverpool are prepared to turn attention to Willian following the breakdown of a potential deal for fellow Brazilian Diego Costa.
The Atletico Madrid star had been linked with a £24.5million move to Anfield, but Brendan Rodgers is now ready to offer more than £10million more than that to bring Willian to Merseyside.
"It seems Liverpool are now in the picture too," confirmed a top Sun source. "Everyone knows Tottenham will have a lot of money after they sell Gareth Bale.
"Willian cost over £30million and there is no chance Tottenham will get him for less.
"Zenit St Petersburg and Shakhtar are also interested and they are ready to pay that money."
With rival interest from Zenit and Shakhtar, Liverpool and Tottenham will face stiff competition for Willian, with it unlikely either club can conclude a deal before the start of the 2013/14 Premier League campaign next weekend.