The Blues reportedly believe they can sign the winger for £4.5 million in a deadline day swoop after his successful loan spell last season.
The winger has been deemed surplus to requirements at White Hart Lane this season, with manager Mauricio Pochettino even going as far as to not allocate him a squad number to force a move away.
However, that has so far failed to materialise despite a number of clubs, including Everton, West Ham and Aston Villa, all being linked with a potential move.
Now though, it seems that it will be the Toffees who will make the move for the player according to the Mirror, who claim that they believe Spurs will finally allow the player to leave in a cut price deal.
It is thought that chairman Daniel Levy had been holding out for £9 million for Lennon, who is currently the club’s longest serving player, but will now instead allow him to leave for half that price.
Given that he has just a year left on his contract, getting any sort of money will likely be looked at as good business, although the reported fee is a drastic come down on Levy’s reportedly high expectations.
For Everton, the deal could represent a coup if they can get him to play as he did during a loan spell at the club last season.