Tottenham have had a bid of almost £12 million for Shakhtar Donetsk forward Willian rejected by the Ukrainian club.
However, news that the North Londoners have agreed a €37 million deal for the sale of Luka Modric to Real Madrid means they will be back in with an improved offer for the 24-year-old.
ESPN understands that Shakhtar want £20 million for Willian. While it is unclear whether Spurs would be prepared to pay that much, the Modric sale means they will table an increased bid.
A White Hart Lane source said: "We are going to replace Modric and the money is available. We are looking for a creative player, and Willian at Shakhtar is someone who interests the manager, Andre Villas-Boas."
Earlier on Monday, reports quoted Shakhtar officials as saying that an offer from Tottenham had been turned down, but White Hart Lane boss Villas-Boas is eager to add to his attacking options and has made the Brazilian his top target.
He had also been interested in bringing the Brazil international to the Premier League during his time as Chelsea manager.
Speaking last week, Willian, who joined Shakhtar from Corinthians in 2007, said he was keen to take up a new challenge, adding: "I don't regret having come here, but I regret what's been going on with this situation. Chelsea tried to sign me, now Tottenham, so I have to rethink.
"I have been here for five years and have won many trophies, so I hope they respect my will."
Unconfirmed reports suggested that Tottenham had tabled a bid for Yann M'Vila of Rennes, but that it was short of the £15 million valuation the club has placed on the defensive midfielder.
The reports came a week after Villas-Boas had told L'Equipe: "He is an interesting player, but I don't think he will join Tottenham. We are looking for a more creative player."
Meanwhile, the Tottenham insider has said striker Jermain Defoe is not for sale despite interest from QPR. Villas-Boas wants three players in contention for every position and is happy with Defoe, Emmanuel Adebayor and Harry Kane.
Spurs are also relaxed about the prospect of selling defender Michael Dawson - another QPR target, and also interesting Stoke - with the insider saying: "The club are not desperate to sell him and would be happy if he stays, but he understands the position that he is no longer first choice and might not get many games.
"QPR made a good offer - a very good one for a 28-year-old - and it is now up to Michael to see whether he goes or not. It could go either way: we would be happy."