The Argentinian was omitted from Spurs’ preseason squad last month in order to negotiate an exit away from the North London side.
The 26-year-old impressed with the Yellow Submarine, as part of a six month loan from January to June, and became a key player for Unai Emery in the second half of the 2021/22 campaign.
Initial reports claimed Spurs valued Lo Celso at €30m with Villarreal unwilling to bid more than €20m for the former Real Betis star.
However, renewed reports from Marca claim Villarreal want to drop that to around €15m, with Tottenham willing to accept a lower bid, as Antonio Conte looks to offload players.
Transfer expert Fabrzio Romano has revealed the deal is progressing with Villarreal set to make a decisive move to get an agreement completed in the coming days.
Villarreal are still confident on Gio Lo Celso deal. Talks will continue next week to reach full agreement with Tottenham, it’s getting closer. 🚨🟡 #Villarreal
— Fabrizio Romano (@FabrizioRomano) August 7, 2022