January boost for under-pressure Thomas Frank? €50m-rated Tottenham and Real Madrid target leaves agent ahead of transfer window

Spurs have been tracking Vasco da Gama star Rayan closely for months, encouraged by his rapid development and consistent end product in the Brazilian Serie A. However, O Dia recently reported that the north London club may soon find themselves outflanked by La Liga giants Real Madrid, who are considering a bid in the region of €50 million (£44m/$59m) as they reassess their attacking options ahead of the next transfer window. 

Los Blancos view Rayan as a serious alternative following Endrick’s loan move to Lyon. A potential €50m offer would significantly raise the stakes. That figure exceeds the €40m valuation first mentioned when Tottenham’s interest became public, underlining how rapidly Rayan’s stock has risen.

Now, Sport reports that Rayan has ended his association with super-agent Pini Zahavi, which could come as a boost for Spurs. The report further explains that when Zahavi was managing the player, Barcelona were considered the favourite candidate to secure the player's signature. This is because their director of football, Deco, was in talks with Zahavi and the club are generally known to be close to the player representative. However, with Zahavi now out of the picture, Tottenham would hope their chances have gone up in convincing the 19-year-old to move to the Premier League.

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Tottenham’s confidence in the transfer market has been bolstered by a significant financial boost, which was confirmed as a £100m ($135m) equity injection from majority shareholders, the Lewis family trust, strengthening the club’s position as they plan for long-term success.

During the change of ownership, the club statement read: "We are pleased to announce that our majority shareholder, the Lewis family trust, has, through ENIC Sports & Development Holdings Ltd (“ENIC”), injected £100 million of new capital into the Club. This equity injection will further strengthen the Club’s financial position and equip the Club’s leadership team with additional resources to continue the focus on driving long-term sporting success. This additional capital is part of the Lewis family’s ongoing commitment to the Club and its future."

Spurs are in need of new attacking signings in the next window after their struggles in the 2025-26 campaign. Frank's men have won just two of their last five Premier League matches and are now 14th in the Premier League table. They will be back in action on Sunday as they travel to Selhurst Park to Crystal Palace in a crucial league clash.