However, the two clubs are negotiating a slightly lower fee for Solanke, who has made one cap for England.
Spurs manager Ange Postecoglou is eager to bolster his attack after the club struggled to replace Harry Kane following his transfer to Bayern Munich last summer. Solanke is coming off the best season of his career, having scored 21 goals in 42 matches for Bournemouth.
If the deal goes through, it would mark a record sale for Bournemouth, surpassing the £40 million they received from Manchester City for Nathan Ake in 2020. Solanke initially joined Bournemouth from Liverpool in 2019 for £19 million, and Liverpool is reported to have a significant sell-on clause.
While Foley expressed his desire to keep Solanke, he also mentioned in July that Bournemouth has "two or three candidates lined up" as potential replacements.
