The North London club, eager to bolster their attack after a disappointing 17th-place finish in the 2024/25 Premier League season, had identified the 24-year-old as a prime target. However, Rodrygo's ambitions appear to lie elsewhere, with Liverpool emerging as his preferred choice.

Spurs have been active in the transfer market, spending 120 million pounds to secure permanent deals for players previously on loan and splashing out 55 million pounds on marquee signing Mohammed Kudus. Despite these efforts, their attacking unit needs reinforcement, especially with speculation surrounding the potential departure of club icon Son Heung-Min.

Sources close to the club indicated that Spurs were prepared to make Rodrygo their highest-paid player to lure him to the Tottenham Hotspur Stadium. "Tottenham have budgeted for a big-name arrival to potentially replace Son Heung-Min," a report from TBR Football stated, adding that the club had initiated talks with Real Madrid and noted Rodrygo's willingness to join Thomas Frank's squad.

However, journalist Santi Aouna has dismissed these claims, stating on X, "Rodrygo has no interest in joining Tottenham despite reports. Spurs made an inquiry, but there's no talk ongoing. If Rodrygo leaves Real Madrid, he's aiming for a bigger club than Tottenham."

This sentiment was echoed by Spanish reporter Ramon Alvarez de Mon, who claimed Rodrygo's "preference" is to join Liverpool, potentially as a replacement for Luis Diaz, who has been linked with a move to Bayern Munich.

Rodrygo's stock was sky-high before the 2024/25 season, particularly after his dazzling performances in Real Madrid's Champions League campaign. Yet, the arrival of Kylian Mbappe at the Bernabeu shifted the pecking order, limiting Rodrygo to just 92 minutes of action at the FIFA Club World Cup under new manager Xabi Alonso.

This reduced role has fueled speculation about his future, with Real Madrid reportedly open to offers around 100 million euros, though they may consider bids as low as 77 million pounds, per AS.

Arsenal and Liverpool are also in the race, with the Gunners having held discussions with Rodrygo's representatives earlier this summer, according to TransferFeed.

Liverpool, however, appear to have the edge, with reports suggesting they are ready to offer up to 100 million euros to secure the versatile attacker. "Real Madrid are opening the doors to the exit of Rodrygo," transfer expert Fabrizio Romano posted on X, noting that while the winger "loves" the Spanish giants, a move could materialize if his role under Alonso remains unclear.

For Spurs, this rejection is another setback in a challenging transfer window. After missing out on Nottingham Forest's Morgan Gibbs-White, who signed a contract extension amid tapping-up allegations, Tottenham's pursuit of a statement signing continues.

Rodrygo's next steps hinge on upcoming talks with Alonso, set for early August when Real Madrid's squad returns for pre-season training. "Rodrygo has to speak to Real Madrid again in the next days, decide whether he wants to go or stay," Romano added, emphasizing that the player's desire for a meaningful role will be crucial.

For now, Liverpool appear best positioned to capitalize, while Spurs must regroup and refocus their transfer strategy.

Report: Real Madrid have not received any formal offers for Rodrygo