The Guardian's Fabrizio Romano believes Spurs are ready to stump up €60 million (£55.3 million) for the Argentine, who now has to negotiate personal terms with his prospective employers.
It's unclear if Mauricio Pochettino and Co. are still interested in Juventus playmaker Paulo Dybala. The north London side already submitted a bid worth €70 million - which Juventus accepted - but a problem relating to the player's image rights has reportedly put talks on hold.
Tottenham also considered signing Barcelona outcast Philippe Coutinho on loan before looking elsewhere. Ornstein understands that Tottenham ended their pursuit of Coutinho earlier Wednesday.
Lo Celso would become the club's joint-record signing alongside Tanguy Ndombele, who moved to the Premier League in July from Ligue 1 side Lyon. Tottenham kicked off their spending spree with the acquisition of the defensive midfielder, having gone the previous year and a half without doing any business.