Soldado has a release clause of €30 million, which Valencia insist the Premier League side must meet.
Tottenham have made an offer of just under that figure, but Cadena Ser report that talks are ongoing and the clubs are close to agreeing a price.
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The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.
Five English clubs will compete in the last sixteen of the Champions League for the first time ever as Liverpool, Manchester United, Manchester City, Chelsea and Tottenham face some difficult away matches.