Spurs' bid appears to have been accepted by Palermo with Zamparini already earmarking the transfer fee for rebuilding.
"We will reinvest the money for these players. The midfield is my biggest concern, whereas in defence and attack we are fairly well covered."
Palermo signed 21-year-old Kjaer from FC Midtjylland in 2008 and a string of impressive performances in Serie A have brought him to the attention of
Cavani, 23, was equally unknown when he moved to the Sardinian club from Danubio in 2008.
Despite the claims from the Italians, Press Association Sport understands as yet no official bids have been lodged by Spurs.
However, Kjaer's representative Mikkel Beck has indicated the Denmark international would be open to a move, should anything 'concrete' materialise.
"The situation has not changed since the summer began," Beck told www.Sport.co.uk
"He has a contract with Palermo for another three years, but he has been put in contact with so many big clubs in the last year.
"It is great that there is interest from these clubs, but I am afraid that nothing concrete has come from any of the interest as of yet.
"At the moment we stay put, and Simon is very patient. He knows what he has at Palermo, they are a top Italian team and are playing in the European Cup next year, so he knows what he has.
"But on the other hand he has admitted that if any concrete offers come out of the current interest then he would seriously consider leaving Palermo this summer."
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