The 26-year-old’s release clause of about £65m was confirmed by Bournemouth owner Bill Foley in an interview with BBC Sport last month.
The two clubs are however negotiating a fee below that for the striker, who has played once for England.
Spurs manager Ange Postecoglou wants to reinforce his attack after failing to replace England captain Harry Kane following his move to Bayern Munich last summer.
Solanke enjoyed the best season of his career last term, scoring 21 goals in 42 appearances for the Cherries.
If the deal goes through it would represent a record sale for Bournemouth, exceeding the £40m they received from Manchester City for defender Nathan Ake in 2020.
Solanke joined Bournemouth for £19m in 2019 from Liverpool, who are understood to have a substantial sell-on clause.
Foley said in July that while he hoped Solanke would stay, Bournemouth had “two or three candidates lined up” as potential replacements.
