Spurs held positive talks with Villa’s agent over a move to North London and were told they would have to pay in the region of £10million for the player.
But Atletico have swooped in for the player at the last moment, agreeing a cut price of just £4.4million for Spain’s record goalscorer.
It is understood that Champions League football was the main factor in Villa choosing to remain in Spain, with Andre Villas-Boas’s side missed out on a place in Europe’s elite competition on the final day of last season.
The North Londoners were also linked with Brazilian striker Leandro Damiao, but their interest has reportedly cooled after Internacional demanded a £20million fee for his services.
Their attentions are now firmly on Soldado, who has just a year remaining on his contract at Valencia, who are holding out for his full £25m release clause.
It is understood Tottenham previously bid £17m for the player, only for Los Che to reject the offer.
The striker has scored 60 goals in three seasons at the Mestalla and would be a welcome, albeit more expensive alternative to Villa.
But Spurs are hopeful regarding their own goalscoring asset; Gareth Bale gave a clear indication that he will be staying at White Hart Lane for the time being, after happily posing for photos at the club’s kit launch yesterday.
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