Tottenham have reached an agreement with Real Betis to sign midfielder Giovani lo Celso.
They hope to complete a deal for the 23-year-old Argentina international, who could cost close to £60m, before Thursday’s transfer deadline.
Spurs are continuing talks with Fulham to sign 19-year-old left-back Ryan Sessegnon.
But the club have ended their interest in Barcelona midfielder Philippe Coutinho.
Spurs had been considering a loan move for the 27-year-old Brazilian, who joined Barca from Liverpool in a deal worth £142m in January 2018.
Coutinho worked with Spurs manager Mauricio Pochettino during a loan spell with Espanyol in 2012.
He has scored 21 goals in 76 appearances for Barcelona but has been repeatedly linked with a move away from the Nou Camp this summer.
Arsenal, Paris St-Germain and former employers Liverpool were among the clubs linked with a move for the playmaker.
Lo Celso, who has 19 caps for Argentina, only joined Betis on a permanent deal in April after spending the season on loan from Paris St-Germain. He made 45 appearances for the La Liga club in all competitions last season, scoring 16 goals.
Meanwhile, Spurs could be set to lose midfielder Christian Eriksen as the 27-year-old Denmark international is understood to want a fresh challenge after six years at White Hart Lane.
Eriksen was linked with a move to Manchester United but the Old Trafford club have ended their pursuit of him.
The Premier League transfer window closes at 17:00 BST on Thursday.