Pedro Porro's move to Tottenham is set to be an initial loan deal to the end of the season with an obligation to make the move permanent in the summer.
The deal is worth a total of €45million (£39.5m), with reports in Portugal claiming Spurs will cough up €5m up front for the loan before paying the bulk of the fee in future.
Spurs have arranged similar deals for Cristian Romero and Dejan Kulusevski in the past, while Arnaut Danjuma, their other January signing, has also arrived on loan - with an option to make the move permanent from Villarreal in the summer.
With Porro set to arrive, Tottenham are willing to sanction an exit for fellow right-back Matt Doherty on deadline day.
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Standard Sport understands that the Republic of Ireland international is currently in Madrid to complete a move to Atletico.
The arrangement will be a straight loan for Doherty that does not include any option or obligation for a permanent summer transfer.
Another Spurs right-back, Djed Spence, is undergoing a medical ahead of a loan switch to French side Rennes.
Interestingly, Atletico also pursued Spence before settling on Doherty on loan for the rest of the season.
Of Spurs' three right wing-backs at the start of the month, Emerson Royal might have appeared the best fit for the Spanish club but the Brazilian made it clear that he did not want to leave the Premier League or London this month.
Emerson will now battle it out with new signing Porro, although you wonder if Kulusevski may spend more time at wing-back in the second half of the season.
Doherty is the second right-back Diego Simeone has signed from Spurs in recent seasons after Kieran Trippier in the summer of 2019.
Another young player who could be on the move from Tottenham on deadline day is promising midfielder Harvey White, who is attracting loan interest from a number of clubs.
White spent the second half of last season on loan at Portsmouth and recently made his senior Spurs debut in the win at Crystal Palace.
No decision has yet been taken on whether or where White could go but it is one for Spurs fans to keep an eye on as the day progresses.
