Los Blancos starlet Kovacic has failed to win a regular starting place in the Spanish capital, and Spurs reportedly attempted to capture Sanabria last summer.
Tom Hopkinson of the Mirror reported the highly rated Croatia international has a £21.8 million buyout clause in his deal with the Galacticos but that the UEFA Champions League holders will consider bids of £17.5 million.
According to Neil Fissler of the Express, Pochettino is also set to rekindle his interest in Paraguay striker Sanabria, who rejected a switch to north London to move to Real Betis, prompting the capture of Vincent Janssen.
Pochettino is losing patience with goal-shy Dutchman Vincent Janssen and could be ready to offload him at the end of the season. ...
Sanabria snubbed Tottenham to return to Spain even though Spurs were in a position to offer him Champions League football.
And ironically Janssen who was signed instead and could end up being replaced by the player he was signed to replace.
He has taken his time to settle in Spain but with three goals in his last four games he has found form and Pochettino has been taking a close interest.
Kovacic would be a major signing for Tottenham. Per Hopkinson, he signed a six-year deal when he arrived at Real from Inter Milan with a big reputation in 2015.
However, the midfielder has made just 14 starts in La Liga this season, according to WhoScored.com, unable to convince coach Zinedine Zidane to play him more.
Here is Kovacic in action:
Sanabria came through the youth ranks at Barcelona, and his recent form has relit Pochettino's interest. After failing to convince him to move to north London in 2016, it could be second time lucky for the manager this summer.
Harry Kane's recent injury record dictates that Tottenham need to add another striker, with Pochettino dependent on the England international for goals and leadership.
Spurs need an improved depth in their squad, and Kovacic and Sanabria would offer youth—they're 22 and 21 respectively—and value.
Kovacic desperately needs a platform on which to display his undoubted talent, and the Premier League could be the perfect stage for him, especially if he were to join a Spurs side with title aspirations.