The first rule of transfer deadline day: do not trust anything you read.
In fact, Porto have apparently named Moutinho in their squad to play Olhanense tomorrow, a move that could be taken as an indication of the state of the deal.
Moutinho is a deep-lying midfielder with loads of ability and creativity. In 2010, Andre Villas-Boas made one of his first moves in charge at Porto to bring in Moutinho. There, the midfielder shined in helping his team to the Europa League crown.
At Euro 2012, Moutinho shined with Portugal, playing a key role in support of Cristiano Ronaldo and getting them to the semifinals.
AVB failed in attempts to bring Moutinho with him to Stamford Bridge last season, but is looking to rectify that with a move for him now.
With Luka Modric being sold to Real Madrid, Moutinho's creativity would be a massive addition to Spurs' squad. Additionally, his familiarity with the Villas-Boas system will limit any adjustment period he may have from the Portuguese league to the Premier League.
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