The Daily Telegraph's Matt Law reported Spurs may activate a release clause of just £3 million for centre-back Evans if West Bromwich Albion are relegated from the Premier League. The article also noted how the Lilywhites may need a replacement for Alderweireld, who has yet to agree a new contract.
Paying just £3 million for a defender with Evans' experience would be a bargain too good to miss for Spurs. The north London club don't have the same spending power as their more illustrious rivals but have mastered the art of securing hidden talent on a cheaper scale in recent seasons.
Players such as midfielder Dele Alli, along with full-backs Ben Davies and Kieran Trippier, all signed for reasonable fees and are evidence of how well Tottenham play the market.
Spurs' chances of repeating the trick by snapping up Evans are strong since West Brom look certain for the drop. The Baggies are bottom of the table, 10 points from safety with only seven matches left to play.
The 30-year-old would make a solid replacement for Alderweireld, who is wanted by Chelsea, Manchester United, Barcelona and Paris Saint-Germain, according to Law. He detailed how Spurs have the option of selling the Belgium international for a bigger fee this summer, before a clause in his contract makes him available for just £25 million in 2019.
If Spurs do sell Alderweireld ahead of 2019, they will ask for £44 million, per Het Laatste Nieuws (h/t Metro).
Fetching in excess of £40 million for Alderweireld while spending a nominal fee on his replacement would be another example of Tottenham's intelligent transfer policy.
Evans may not be starring for struggling West Brom, but the former Manchester United man is still a capable defender in the top flight. The Northern Ireland international is aggressive and decisive in the air, and he is comfortable playing out from the back.
If Spurs were to sign Evans, they may have to beat local rivals Arsenal to the player's signature. The Gunners were said to have offered £10 million plus right-back Mathieu Debuchy during the January transfer window, per Paul Brown of the Daily Star.
West Brom manager Alan Pardew subsequently said Arsenal failed by bidding too late and not offering enough money, according to James Benge of the London Evening Standard.
Arsenal could activate the same clause if Evans suffers relegation, but Spurs may have the edge. Tottenham are fourth, 13 points ahead of their neighbours and more likely to be playing UEFA Champions League football next season.
The only chance for the Gunners to be in Europe's top tournament will be to win this season's UEFA Europa League.
Offering Evans the chance to start regularly, along with a return to the Champions League, would surely give Spurs the edge.