Tottenham have had a €45m (£37.6m) offer for Luis Díaz rejected by Porto. Antonio Conte wants to strengthen his squad before the transfer window shuts next Monday and Díaz has emerged as a key target. Spurs are braced for a busy week and want to move players in and out of the club. They are hopeful of an agreement with Wolves for Adama Traoré, who Conte intends to convert into a right wing-back, but they will have to increase their offer for Díaz. The Porto winger has a £66m release clause and Spurs have been told their opening bid for the 25-year-old is not enough. Díaz, a Colombia international with 31 caps, is one of the most exciting talents in Europe and has scored 14 goals in 18 league games this season. He has also been linked with Manchester United. Conte has made clear that Spurs, who are seventh, must revamp their squad if they are to challenge at the top of the Premier League. The Italian also wants to strengthen in central midfield. He has looked at Fiorentina’s Sofyan Amrabat, who is his preferred option, and Milan’s Franck Kessié, who is out of contract this summer. Spurs are ready to offload those not in Conte’s plans. Tanguy Ndombele, the club’s record buy, could join Paris Saint-Germain on loan. Dele Alli and Giovani Lo Celso are also available after failing to make the bench in the defeat at Chelsea on Sunday. Newcastle are interested in a loan deal for Alli, who has also been linked with Southampton. Meanwhile Manchester City have struck an agreement to buy the Argentina forward Julián Álvarez from River Plate for €18.5m (£15.5m) plus add-ons. Contracts are being prepared with a view to announcing the deal this week. Álvarez will continue with River until July before moving to England on a five-year contract. The 21-year-old, who has five caps, can play as a winger or more centrally.