Tottenham have had an €18 million [£15.3m] bid for Inter midfielder Fredy Guarin rejected by the Serie A outfit, Goal understands.
However Spurs, who are keen to add attacking options to their squad this summer, are set to continue talks over a move for the Colombian in Milan next week as they look to salvage a deal to bring him to White Hart Lane.
Tottenham's initial bid, which included performance-related add-ons, was to be paid over five years, but Inter are holding out for deal in which they receive the entire fee up front.
Chairman Daniel Levy is currently on holiday in Florida until the end of June, so any deal is likely to be put on hold until his return.
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The Colombian wide man, meanwhile, has insisted he wants to stay at San Siro.
"I won’t be leaving," the former Porto star told Futbol Total. "I will be staying at Inter.
"I still have a lot to learn and I only joined Inter about a year ago anyway.
"Inter are a great club with a great squad. I am playing my football in Milan with the intention of making history."
Tottenham are keen to crank up their recruitment drive however after again missing out on Champions League football on the final day of the season, with the likes of long-term target Leandro Damiao and Barcelona striker David Villa being pinpointed by Levy.
Spurs' strict wage structure is set to be broken following meetings with owner Joe Lewis, with a new £130,000-a-week deal agreed with Bale to fend off interest from the likes of Real Madrid, while a £110,000-a-week offer is being prepared for Villa.
Meanwhile, former Roma general manager Franco Baldini is expected to take up a technical director's position at the club in the near future after parting company with the Serie A side last week.