Russian reports suggest Tottenham have beaten Liverpool to agreeing a fee for Willian. (Reuters)

Tottenham Hotspur have agreed a €35m deal to sign Anzhi Makhachkala's Willian, reports in the Russian press suggest.

The Brazilian midfielder has been heavily linked with moves to both Spurs and Liverpool in the past week as the Russian club prepare to sell their most valued assets after billionaire owner Suleiman Kerimov announced he would be drastically shrinking the club's budget.

Reports have suggested Liverpool have tabled a bid thought to be close to €30m, but have reportedly been trumped by Tottenham who are eager to strengthen their squad as the threat of losing Gareth Bale to Real Madrid looms.

Russian publication Sport Express report suggest Tottenham have made an offer that eclipses that of Liverpool's, offering the Russian club €35m, plus an additional percentage of the player's next transfer.

The 25-year-old only joined the Russians from Shakhtar Donetsk in a deal reported to be worth €35m in the January transfer window, but a radical change in pace behind the scenes at the club now means they are unable to accommodate their top earners such as Willian and former Barcelona and Inter striker Samuel Eto'o.

Spurs have already spent close to £60m during this transfer window in bringing Etienne Capoue, Roberto Soldado, Nacer Chadli and Paulinho to White Hart Lane.

While it would appear Real Madrid have cooled their interest in Bale amid concerns over Tottenham's lofty asking price, the Premier League club are still keen to strengthen their options before the closure of the transfer window in just under two weeks' time.

Andre Villas-Boas has confirmed the Welshman will be unavailable for the club's next two games against Dinamo Tbilisi and Swansea City, but also announced the club are still in the market to make further additions to the squad.

When quizzed on the interest in Willian on Monday, the Portuguese manager denied reports suggesting the club have made a bid, but did however profess his admiration for the skilful Brazilian.

""This is a player who I have spoken about in the past, not very long ago," Villas-Boas told reporters on Monday.

"He is a player who I appreciate. He belongs to them and I respect them so I wouldn't like to extend myself too much."