Suarez is a Barcelona player who spent last season out on loan at Villarreal.
The £27 million fee would be a high one considering Barcelona paid just £2.5 million 12 months ago to re-sign him, having previously let him leave a year earlier.
It is also substantially more than the fee Everton paid to sign Sandro, a similar player with an even better track record.
Sandro scored 16 times for Malaga last season after leaving Barcelona permanently, prompting Everton to trigger a £5.2 million clause in his contract.
He is a low cost gamble, who at 22-years-old has his best years ahead of him.
Denis Suarez is a year older, and scored just three times in La Liga last season.
He prefers to play a little deeper than Sandro, but Tottenham's need is more for a forward like Sandro who can come inside from the flanks as opposed to an attacking midfielder.
Tottenham are usually prudent in the transfer market, and missing out on Sandro in itself could be classed as an error.
Paying more than five times the price to land a less productive player of the same age and experience would highlight it even further.
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