The Argentinian midfielder spent last season on loan at Villarreal and is part of Tottenham’s pre-season preparations.
But he is expected by many to leave the north London club this summer and there are several clubs who are interested in signing him.
Napoli and Barcelona are interested in signing him and Aston Villa are also considering making a move for the midfielder in the ongoing transfer window, with Unai Emery a big fan.
Real Betis also have their eyes on their former player and, according to Seville-based daily Estadio Deportivo, the Andalusian club are trying to find ways to make a deal work this summer.
Tottenham want a guaranteed fee from his departure and have set his price tag at €25m.
Betis do not have the funds to get a deal done at the moment but they are working on two scenarios.
The Spanish club are pushing to sell Luiz Felipe to West Ham for a fee of around €20m this summer.
Betis are also considering the risk of waiting until towards the end of the window to try and sign Lo Celso.