According to The Star, negotiations between the two clubs have stalled over this shortfall, with the new Premier League season just 10 days away.
While Spurs value Kane at £160million, Man City have indicated that they are unwilling to offer more than £120million for the striker.
After Sergio Aguero’s emotional departure, the reigning champions have identified Kane as the ideal replacement.
The England captain, who scored four goals as Gareth Southgate’s side reached the final of the Euros, would become the new focal point for City’s attack.
But Tottenham are holding firm on the price they expect for Kane, who progressed through their academy to become the club’s star player.
They are under no pressure to sell, with Kane only halfway through a six-year deal he signed just before the start of the 2018 World Cup.
In addition to being a clinical finisher, with more than 200 goals in all competitions for Tottenham, Kane is also an outstanding creative presence.
He registered a remarkable 14 assists in the league last season, more than any other player, to add to his 23 goals.
Despite his best efforts, Kane has yet to a trophy with Spurs, losing two League Cup finals and one Champions League final.
The 28-year-old is determined to add some silverware to an impressive array of individual awards, including three Premier League Golden Boots.
Man City is seen as the perfect place to bring that trophy drought to an end but Spurs will insist on getting the highest fee possible.
Kane has tried to increase the pressure on his boyhood club by refusing to turn up for training, which has alienated many supporters.
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