The 30-year-old striker travelled back to Spain on Thursday to undergo a medical and complete his move to El Madrigal.
It is believed that Spurs have actually only paid £16m for Soldado with The Guardian reporting that his bonuses and add-ons clauses were not met.
It is understood that the 12-time Spain international will cost Villarreal £12m.
Spurs boss Mauricio Pochettino touched on the potential transfer, indicating that something was forthcoming.
"It is true that the club gave permission for Roberto to go to Spain," Pochettino said. "The club will announce after that if something happens or not."
The mooted transfer was also noted by Soldado's Spurs teammate Erik Lamela who wished the striker all the best on Twitter before quickly deleting the post.
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