The proposed move to Villarreal is said to have been held up over an 'enormous' difference in the valuation of the striker.
Soldado joined Spurs in 2013 and has struggled to establish himself as a goalscorer at White Hart Lane and has ultimately disappointed.
Tottenham are keen to offload the 30-year-old, who he has been linked with Sevilla in Spain and also Galatasaray in Turkey.
Villarreal believed they had put a deal in place for Soldado but having entered into negotiations with the north Londoners after struggling to agree a fee.
Despite being resigned to taking a financial loss on the £26million they paid for the striker, Spurs are holding out for as high an amount as possible.
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