Tottenham Hotspur have identified Xabi Alonso as their number one target for the manager's job, with Daniel Levy now ready to pay the financial package for the Bayer Leverkusen boss, according to a report.

What's the latest Tottenham manager news?

For a little while, it has been rumoured that Julian Nagelsmann is Tottenham's first choice to take over as manager, although he is waiting for the club to hire a new director of football before committing to the job, according to The Telegraph.

In the meantime, Levy has continued to run the rule over other potential options, with recent reports indicating the chairman still has Celtic's Ange Postecoglou on his wanted list, amid rumours the Australian is keen to make a move to the Premier League.

Earlier this week, Dutch journalist Marcel van der Kraan claimed Alonso is the "first candidate" to take over at N17, and that has been corroborated by a new report from The Daily Mirror.

According to their sources, not only has Levy selected Alonso as his number one choice for the manager's job, but he has now given the move the green light, and is ready to pay the financial package required to hire the Spaniard.

A successful interview is the last hurdle the Bayer Leverkusen manager will have to clear before being appointed as Spurs boss, with the wheels already in motion, although a deal won't transpire until the end of the campaign.

It is understood that one year's salary must be paid to prise the 41-year-old away from the German club, which Levy is willing to do.

Should Tottenham appoint Xabi Alonso?

When the Tolosa-born tactician took over at Leverkusen, they were 17th in the table, inside the relegation zone, so it is fair to say he has overseen quite a remarkable turnaround, given that they are now up to sixth place.

Lauded as "fantastic" by journalist Josh Bunting, the former Real Madrid midfielder has also guided his current club to the semi-finals of the Europa League, with a tie against AS Roma pencilled in for later this month.

Having worked under some phenomenal managers as a player, including Jose Mourinho, Rafa Benitez, Carlo Ancelotti and Pep Guardiola, there is every chance the up-and-coming coach could go on to be a huge success.

As such, it is very exciting news Alonso could be on his way to Tottenham, particularly considering a rebuilding job will be needed in the summer, and he is proven he is up to the task in that regard during his time in Germany.