The 28-year-old's current deal with the north London club runs down after the end of the next season. He has a clause in his contract which can see him extend his stay with Spurs for one year, but it also has another clause that will see him leave the club for £25.4m ($35.5m) 14 days before the transfer window.
Mauricio Pochettino's side have been in discussions with the player's camp over extending the centre-back's new deal. However, Tottenham have now reached a deadlock over contract negations.
Alderweireld is currently earning £50,000-a-week. The Premier League outfit are willing to double his salary and offer him £110,000-a-week, including bonuses. The player is demanding a pay rise that will see his wages rise to £150,000-a-week.
However, Spurs are unwilling to meet his demands and the former Southampton manager has backed his employer's decision to not change their wage structure in keeping the player at the club.
The English capital side are willing to cash in on his sale after the end of the transfer window rather than letting him leave for nothing a year later. Alderweireld is also attracting interest from top clubs across Europe.
According to the Times, Premier League clubs Manchester United and Chelsea, along with Champions League winners Real Madrid are interested in signing Alderweireld. The Manchester Evening News reports the Red Devils are expected to make a bid for the Belgian in the summer.
Pochettino was coy when asked about the recent speculation linking the former Atletico Madrid man with a move away from the club. He said, "I am not involved in negotiations. I never talk about rumours. It is not my job and I cannot say nothing about that."
Alderweireld was sidelined for three months before returning to action in Tottenham's FA Cup replay against Newport County on 7 February. However, the Argentine coach dropped him for subsequent clashes against Arsenal and Juventus. He has picked up another injury that saw him not finish the training session on Friday.