Swansea City chairman Huw Jenkins revealed the club have had contact with Tottenham regarding Ben Davies and Gylfi Sigurdsson.
Left-back Davies has impressed since breaking into Swansea's side early in the 2012-13 season.
Initially promoted to the first team after Neil Taylor suffered a serious ankle injury, Davies has since held off his fellow Welshman to retain a starting berth, while also representing his country on 10 occasions.
That has prompted interest from elsewhere, with Tottenham and Liverpool among the clubs linked, although Jenkins said the London club have yet to follow up an initial enquiry.
"There's a lot of speculation about Ben at the moment, as there is with a lot of players at this time of year," Jenkins told the South Wales Evening Post.
"There was an initial interest from Tottenham, but there has been nothing since."
Sigurdsson, meanwhile, could be set for a return to the Liberty Stadium, where he shone during a loan spell from Hoffenheim in 2012 before signing for Spurs.
"Gylfi was put to us and he is one of a number of players we have been speaking about," Jenkins added.comments