The Argentine moved to the Yellow Submarine in January on a six-month loan deal and he has been able to impress under Unai Emery, playing a key role in helping them reach the Champions League semi-finals.
It has been claimed that Spurs boss Antonio Conte has already told Lo Celso that he is not part of his plans at the Tottenham Hotspur Stadium and can leave in the summer.
Moreover, Tottenham are keen to offload the midfielder and remove him from their wage bill, as his current salary see him earn around €6m per season in north London.
According to Spanish daily Estadio Deportivo, Lo Celso will push to secure a move to Villarreal in the summer on a permanent basis, with the La Liga outfit also keen to keep him beyond this season, but they are set to face issues matching the asking price on his head.
Spurs snapped up Lo Celso for around €48m from Real Betis and they want to earn a fee as close as to that figure from his departure, which is proving to be a huge stumbling block for Villarreal.
Lo Celso is unlikely to play for Spurs next season, and they prefer to sell him to a team from which they can recoup as much as they can from the fee they spent on him.
Villarreal also face the issue of Lo Celso’s wages, given his pay packet in London.
And it remains to be seen if the Yellow Submarine can keep hold of Lo Celso or if financial issues mean he leaves Tottenham for another club.