Croatian international Corluka, 24, has already passed a medical at White Hart Lane and cannot wait to join his good friend Luka Modric in London.
A City source told The Sun: "This deal is great news for everyone.
"Vedran's a good player but it means the manager can use the money to bring in a forward.
"Everyone's a winner. Vedran is desperate to team up with Modric.
"He was popular here but this is good business."