The 27-year-old joined the Toffees in January 2022 in a complex deal that included several performance-related clauses.
Spurs will receive £10 million if the attacking midfielder makes 20 appearances for the Merseyside club.
Alli has made 13 appearances for Everton, having spent the 2022-23 campaign on loan at Besiktas.
The England international has been out of action since picking up a serious knock in the summer.
However, he is recovering well and will likely return to the first team this season.
Everton are in a difficult financial situation, dealing with debt issues and the ongoing costs of building their new stadium at Bramley-Moore Dock.
The club also faces the threat of points deduction over allegedly breaching Financial Fair Play rules.
They are now attempting to restructure the terms of Alli’s transfer with Spurs.
Manager Sean Dyche recently confirmed that the club’s director of football Kevin Thelwell has started background discussions with Spurs.
“Kev has had a couple of phone calls, just lightly in the background (saying) ‘look, where do you see it?’” Dyche said. “But nothing has changed at the moment.”
Alli has endured a difficult time in the last few years. After struggling for game time at Tottenham, he joined Everton in 2022 in a bid to reignite his career.
But the move hasn’t worked out for him, with the club opting to send him on loan to Besiktas last season.
The 27-year-old failed to make an impact in Turkey, scoring just three goals in 15 appearances in all competitions.
Alli opened up about his mental health issues in an emotional interview with Gary Neville in July.
He has since been trying to make a comeback, but fitness issues have prevented him from returning to action.
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