Tottenham are convinced they can cash in on Jermain Defoe this summer.

The Mirror says Spurs will put the squeeze on Defoe by offering the England striker a new three-year contract - and listen to offers if he does not sign.

Defoe, 24, will be offered £30,000 per week - a 22 per cent increase on his current terms under boss Martin Jol.

Tottenham will be prepared to let him go this summer so they can get at least £12million for his services - and they believe Manchester United and Liverpool would both be bidders.