Tottenham have agreed a club-record £85 million ($112m) deal with West Ham to sign Mateus Fernandes, sources have told ESPN.
ESPN reported last week that Spurs were ready to rival Manchester United for the 21-year-old midfielder and sources suggest they offered a higher overall package to beat off any competition.
Despite being relegated to the Championship, the Hammers always stood firm on their valuation and Spurs' willingness to reach an agreement is a further sign of their desire to back Roberto de Zerbi in the transfer market this summer.
The fee smashes their previous club record of £65m ($86m) paid to Bournemouth for Dominic Solanke in 2024 and Fernandes is now on course to become their fifth summer signing after goalkeeper Martin Dúbravka, Jan Paul van Hecke, Marcos Senesi and Andy Robertson.
Tottenham have also had a bid worth around £75m ($99m) rejected for Newcastle's Sandro Tonali and are weighing up whether to return with an improved offer with Arsenal and Manchester City also monitoring the situation.
Fernandes joined West Ham from Southampton last summer for an initial £38m ($50m) fee. That deal also contains a clause that gives Southampton 15% of any future move.
The 21-year-old scored four goals and registered four assists in 38 appearances last season.
Sources have told ESPN that Manchester United pushed hard to to sign Fernandes, but weren't prepared to match Tottenham's bid.
Fernandes, according to sources, never revealed his preference of club during talks, leading United to believe he was not completely committed to moving to Old Trafford.
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Last summer, both Bryan Mbeumo and Matheus Cunha made it clear that they only wanted to join United despite strong interest from other clubs.
United decided against matching Tottenham's bid for Fernandes, in part, because club bosses did not sense that he had the same desire.
Information from ESPN's Rob Dawson contributed to this report.