Walker’s future seems to be away from north London, with Manchester City reportedly considering a big money move for him in this summer.
Spurs have been linked with a few full-backs in recent months, and Pereira is thought to be on their radar.
The Portuguese full-back has a £22 million buy-out clause in his contract. However, according to London Football News, Porto are said to be willing to take a lower offer and are ready to negotiate with Tottenham over a deal.
Pereira is fast, skillful and would be a handy replacement for the England full-back. Tottenham have identified Pereira as one of their leading targets, but whether they make a formal bid remains to be seen.
Losing Walker, who was impressive last season, would be a massive blow for Spurs, but Mauricio Pochettino has been working on his contingency plans.
Pereira impressed on loan at French outfit, Nice, over the past campaign, and a deal could be struck at a cut-price if Spurs make a formal move.
The report adds that Spurs are looking to exploit the European market and are also in for Joel Veltman, Benjamin Henrichs and Jeremy Toljan.