The Spanish club's president has reached agreement with Tottenham over the transfer, which suggests Spurs have agreed to meet Soldado's buyout clause of £26m.
Amadeo Salvo said last week he would not sell the striker for a penny less than a fee which would represent a club record for the Londoners.
And, speaking to local media on Wednesday, Salvo said: "The deal with Tottenham has been completed."
All that now apparently stands in the way of the move is a dispute with the Spain international's representatives.
Salvo said: "A problem with Soldado's agents has come up and the player will not leave the club until a solution has been found."
Soldado, 28, scored 30 goals in 46 appearances for Valencia last season.