Tottenham chairman Daniel Levy has reportedly given Andre Villas-Boas £50m to spend on summer transfers. The Metro reports Spurs are prepared to spend big as a reward for AVB's loyalty. The former Chelsea and FC Porto manager was approached by Ligue 1 champions Paris St Germain, to take over another ex-Chelsea manager, Carlo Ancelotti.

Andre Villas-Boas

Spurs failed to make it to the Champions League for the 2013/14 season, losing fourth place to arch-rivals Arsenal by one point... for the second season in a row.

And AVB is now eager to both cement his reputation in England, following a disastrous few months at Stamford Bridge, and guide the White Hart Lane club back into Europe's elite club competition.

The re-model could begin with the sale of as many as 10 first team players, with England internationals Scott Parker and Jermain Defoe believed to be on that list. Togo striker Emmanuel Adebayor is also likely to leave this summer, following a disappointing 2012/13 season.

The bigger battle will be to retain Gareth Bale. The 23-year-old Welsh international established himself as one of the finest attacking players in the world this season, with an impressive 21 goals in the Premier League last year.

Such form drew the undivided attention of nine-time European champions Real Madrid, whom The Sun linked with a world record £85m bid for the player. Levy and AVB have both repeatedly stressed their star player is not for sale and although Bale is expected to sign a mega-money contract extension with his present club, his agent has confirmed his client is open to talks with Madrid.

Meanwhile, on the list of possible incoming transfers are Internacional striker Leandro Damiao, Aston Villa's Christian Benteke and the Brazilian duo of Bernard and Paulinho.

Either way, AVB is keen on completing all transfer activity as quickly as possible, but without compromising on quality.

"We got so close but our rivals will do their job in the window. We will do our job the Tottenham way - scouting properly, looking for good grabs in the summer to make it a stronger squad. We have to continue to raise the bar," he said.