Valencia president Amadeo Salvo has told Tottenham they will have to meet Roberto Soldado's 30million euro (Â£25.8m) release clause after rejecting their initial approach for the Spain international.
Spurs head coach Andre Villas-Boas confirmed earlier on Tuesday that the Premier League side were interested in striker Soldado as they look to strengthen their options up front.
Spurs' director of football Franco Baldini travelled to Valencia on Monday to meet with the club and the player's representative, but they are yet to agree a deal, with the Primera Division side refusing to lower their asking price.
"Soldado can go if he wants - for â‚¬30million and under our conditions," Salvo said at a club press conference.
"Valencia never had any intention of selling Soldado. If he goes then it is because the â‚¬30million figure has been met, not a cent less or a cent more.
"The buying club will also have to accept Valencia's conditions of payment also.
"We agreed to meet Tottenham again to discuss the ways of paying and we did that because we understood that his buy-out clause would be met.
"Speaking about ways that deals are paid is normal and this will be done in a way that suits the financial department of Valencia and not that of any other clubs.
"We listened to him and we said what we have always said - that the price is â‚¬30m, then the boy himself can decide if he leaves and that the conditions of pay are what they are."
Any deal for the Spain international at Â£25.8million would break Spurs' transfer record and Villas-Boas stated earlier on Tuesday that the 28-year-old is on their radar.
"At the moment, he's just one of the players we are interested in," said Villas-Boas at a press conference in Hong Kong.
"It's not a lie to anybody that we've been looking for a striker to strengthen our squad and to have more strength in depth.
"Roberto is one of the players we have been following and his career speaks for itself. He's a great striker.
"But there isn't a deal being struck at the moment, it's just interest and conversations."