According to Gary Jacob in The Times, Ajax do not want to sell the 21-year-old but have been in discussions with Spurs over a deal worth £27 million—and £13 million in add-ons—after initially rejecting a bid worth £35 million.
Ed Aarons of The Guardian reported Sanchez has agreed on the terms of a five-year contract, but the two clubs have yet to settle on a fee.
Jacob added that Sanchez has told the Eredivisie outfit he wants to leave for Tottenham, which will likely be a key factor in the deal being completed.
Per De Telegraaf (via football writer Kristof Terreur), Ajax are holding out for more money for one of their most sought-after players, but it looks as though he will eventually sign a five-year deal with Spurs:
Sanchez would be Tottenham's first major signing of the summer. Unlike their rivals for the Premier League title, they have been quiet so far in the transfer window, most notably raising £53 million by selling Kyle Walker to Manchester City.
The Colombia international could be a fine and adroit addition to the Spurs squad, providing another centre-back option for manager Mauricio Pochettino, who often favours playing three at the back.
Current Spurs centre-backs Jan Vertonghen and Toby Alderweireld are both also former Ajax players, and Dutch football writer Elko Born believes Sanchez has enormous potential:
Meanwhile, Spurs are also reportedly attempting to offload defender Kevin Wimmer to Southampton, but the south-coast club are not, as yet, willing to meet the £20 million asking price, per Jacob.
The centre-back, 24, only played five Premier League games last term, with Eric Dier—traditionally a midfielder—stepping in most often to make up a back three with Vertonghen and Alderweireld, or to replace either if they were injured.
If Sanchez were to join Spurs, Wimmer would likely fall even further down the pecking order, so it is little surprise the north London side are looking to offload him.