The Danish playmaker's current deal with the North London club runs out in less than two years, with the club keen to tie him down, providing it's on their terms.
However, if Daniel Levy and Mauricio Pochettino wish to keep Eriksen at the club for the long run, they must loosen the purse strings.
Spurs are famously tight when it comes to expenditure on players; current or new.
With the club also running up a debt over the build of their new stadium according to a report in the Independent, there will no doubt be even less money available for players.
However, the club have given bumper new deals to duo Kane and Dele Alli in recent months, and Eriksen deserves to be on a par with the former.
According to The Telegraph, Kane's latest contract sees him collect a weekly wage of £200,000 including bonuses.
Although Kane is arguably Spurs' star player, and poster boy for a new era at the club, Eriksen is every bit as important to the team as the England captain.
Eriksen has been a revelation for Spurs since joining the club from Ajax for £11 million in 2013.
The 26-year-old has contributed 57 goals and 57 assists in his 232 appearances for the North Londoners, and generally makes the team tick with his passing, creativity and technical excellence.
It has led to the likes of Real Madrid circling around for his signature according to The Sun, ready to take advantage of any potential contract dispute.
However, both he and the club are currently at loggerheads with regards to the contract situation, but if Spurs want to continue on their upward trajectory and eventually win a title, keeping Eriksen is vital.
The Dane should therefore be offered a salary similar to that of Kane's. Despite Kane largely being heralded as Spurs' best and most important player, it is Eriksen who Pochettino's side struggle to play without.
Kane has missed large chunks of each of the last three seasons through various injuries, however, the club have largely coped fine without their talisman, with the likes of Heung-Min Son, Dele Alli and of course Eriksen himself filling in to cover the goals.
Of course, Kane's importance to the side stretches much further than simply goals, however, Eriksen is the player Spurs struggle most to replace when he doesn't play.
No other player in the current side has Eriksen's ability to provide goals, assists, as well as set the tempo and rhythm of the match. The likes of Alli can provide all round qualities, however doesn't control the game in the same way the former Ajax midfielder does.
It is why Spurs are often bereft of creativity and style when Eriksen is missing from their starting eleven on a match day.
Eriksen has actually missed out on a place in the starting line-up for Spurs' last six Premier League games as he battles back from injury, and whilst Pochettino's side have been in good form, they have only won one of those fixtures by more than a single goal margin, and certainly haven't been at their fluid best.
It is rare to find a player of Eriksen's qualities and should Spurs end up losing the Danish international due to not being able to agree terms for a new deal, it could end up costing the club a lot more to replace him.
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