Spurs have made an official statement in reaction to many reports in the national press suggesting that we were 'beaten' to the services of Wimbledon striker Carl Cort by Newcastle.
The club wishes to make clear that this was not the case and it was always the decision of Spurs not to proceed with the transfer.
"In order to put the record straight, the option to purchase Carl Cort was totally in our hands," said a club spokesman.
"The club made what it considered to be its best offer for the player and was not prepared to pay any more. Indeed, as late as 11.30pm on Tuesday night, an agent representing Wimbledon informed the club that there was still an opportunity for us to increase our offer which the club declined."
In a separate development, two of Spurs' promising young players, Ian Hillier and Gavin Kelly, have signed new one-year deals at White Hart Lane.
Defender Hillier, 20, joined the club in 1996 and turned professional two years later. He has previously won Wales youth and schoolboy international honours.
Kelly is 19-years old goalkeeper and has been at the Lane for three years, he has won 16 caps for the Republic of Ireland under-16 side.