The Portuguese manager coached the Spanish international during his time in charge of Wolves, and the option within Tottenham is that Traoré instead replaces Heung-Min Son's position as a winger in order to push the latter further up the pitch with Son playing alongside Harry Kane.
Daily Telegraph's Matt Law also reported Tottenham will try to accelerate talks over the signing of the winger.
The deal could end up being a loan with a view to a permanent £40M move or a series of small staggered payments like Liverpool structured for Diogo Jota last summer.
Whether people like it or not, it is undeniable that Traoré is one of the best ball carrying wingers in the league with an incredible physique and great dribbling skills.
His finishing may not be what is expected from a player of his quality, but his ability in 1v1 scenarios would help the Spurs front-line significantly, specially playing alongside Son and Kane.
''I think Wolves have a very good team and created us enormous problems, big big problems. One of those was Adama (Traoré),'' Espírito Santo said about the Spanish winger following Spurs 0-1 win at the Molineux. ''Everyone knows Adama is unique and he's very hard to stop.''