Spurs and Arsenal are among the clubs tracking Martinez in hope of securing a deal with Inter, who are under pressure to offload players as a result of financial losses arising from the coronavirus pandemic.
It is understood Spurs believe they have agreed a fee in principle but sources close to Inter have dismissed suggestions they are ready to sanction a transfer.
The departure of Lukaku will spark fury among Inter fans and the club have a difficult decision whether to exacerbate tensions further by allowing Lukaku’s strike partner to leave.
It is unclear whether the departures of Hakimi and Lukaku will be enough to relieve the financial pressure from Inter’s Chinese owners Suning. They are also listening to offers for the club as a whole after Chinese President Xi Jinping urged the country’s investors to focus their efforts on domestic pursuits.
Tottenham have so far shown no willingness to negotiate with City, who are refusing at this stage to offer the £150m it would take for chairman Daniel Levy to consider doing business. Sources have also suggested new head coach Nuno Espirito Santo wants his team to play with two forwards this season.