Tottenham are ready to buy Osasuna attacker Victor Munoz this window in order to fend off interest from Real Madrid.
The former Madrid youth ace is in-demand in Spain after a senior breakout year in La Liga that has seen him contribute to eight goals in 23 games.
According to a report, Spurs are aware of Madrid's ambition to buy the 22-year-old back in the summer and are prepared to move ahead with signing him now to stave off competition.
Munoz only left Madrid last year having come through the club's academy system. He made four first-team appearances before being sold.
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Osasuna attacker Victor Munoz at Real MadridREUTERS/Hannah Mckay
However, Fichajes say that Madrid, who lost Munoz for under £5million last summer due to his tiny release clause, are keen to activate their own buy-back clause for the player only to hold a bidding war for him themselves.
Madrid, it is reported, can get him for just £6.5million which is a fraction compared to Osasuna's £35million release clause. Los Blancos would only position themselves to cash in again and make the most money, though.
Tottenham, hoping to get for a cheaper price, are keen to act quickly and snap him up now before Madrid get involved again and ramp up the fee.
There are said to be other top European clubs sniffing around for Munoz with Tottenham attempting to get ahead of the competition. Thomas Frank's side are no strangers to buying up young players at low prices having picked up Lucas Bergvall before developing him in north London.
Spurs are also committed to bringing through Luka Vuskovic after going in bigger for Wilson Odobert and Archie Gray.
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Spurs are short in attack
Tottenham have left themselves exposed to injuries, which simply do not relent under Frank. With Mohammed Kudus out and Dejan Kulusevski yet to return, the frontline has been threadbare.
Mathys Tel is struggling and Xavi Simons has needed a substantial adaption period in England since his own high-profile transfer. Whether Munoz, who is inexperienced for his age, would help the situation is debatable.
He has certainly made the most of his opportunities in first-team football but still only has half-a-season under his belt having never truly gotten through at Madrid.
Munoz's price values him level with Brennan Johnson, who had been a Premier League player before joining, which shows the risk at stake.
Quick decisions are needed
With less than a week left of the January window, Tottenham need to act fast if they are to get Munoz early. Although they were sharp to buy Conor Gallagher ahead of Aston Villa, there has been a sense of muddled thinking in the boardroom since Daniel Levy's departure.
That would need to change if Spurs were to snatch Munoz from under Madrid's noses this month.
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They face competition for his signature.