Chairman Daniel Levy is reportedly still working on a bid to bring the player to the club this month rather than the end of the season, with Andre Villas-Boas desperate for attacking reinforcements as he looks to launch an assault on the top four.
The club already have a deal in place for the player to join in the summer, but Levy is ready to prepare his third bid to hurry the move along.
Schalke are determined to bank £1.5 million for the 22-year-old central midfielder – a fee Tottenham are willing to pay having lost Brazilian enforcer Sandro to injury for the remainder of the season.
Tottenham have been quiet by their standards during this transfer window. Whilst securing the Bosman signing of Holtby, they have also signed 20-year-old former Manchester United defender Ezekiel Fryers from Standard Liege.
Tottenham assistant manager Steffen Freund was coy when asked about Holtby’s future earlier in the week saying: “At the moment he will be here in the summer.”
Whether Levy’s third bid for the player will be accepted remains to be seen.