The hope is that come the end of the season, Manchester United will move for both Palacios and Valencia, should the pair continue to perform at their present levels.
Latics boss Steve Bruce revealed at the weekend that Manchester City have also bid for the midfielder and that Spurs are expecting to pay for Palacios over the next 200 years.
He said: "Anyone who has watched Wilson for the last six months will now what they are getting. The size of the fee, I believe, has been agreed.
"But in terms of the payment, Mr Levy wants it over something like 55 years!"
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