The Mexico international has endured a torrid time in North London, making just 30 appearances in all competitions in his four-and-a-half years at White Hart Lane.
Manager Harry Redknapp has utilised the 22-year-old primarily in domestic and European cup competitions, contributing goals in the victories over Shamrock Rovers and Cheltenham Town this season.
A lack of first-team action saw the former Barcelona star come close to sealing a switch to Sevilla over the summer, only for Spurs to pull the plug on the deal at the last minute.
However, it now appears the 'Yellow Submarine' are on the verge of securing the flamboyant winger’s signature, according to the club’s vice president Jose Manuel Llaneza.
"The negotiations are well on the way and it seems like the player wants to come to Villarreal," he said.
"The deal is not finalised, but we expect a solution by the weekend. Villarreal needs more attacking players."
It has also been reported that La Liga rivals Espanyol and Granada had expressed an interest in signing the Villarreal target, who now appears to be closing in on a move to El Madrigal.
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