Eto’o is out of contract following one season with Chelsea but will not return after labelling Jose Mourinho a “puppet” and a “fool” for questioning his age.
The 33-year-old will play for Cameroon at the World Cup in Brazil this summer, but could yet be back in the Premier League next season.
Spurs are weighing up a move to bring Eto’o to White Hart Lane after facing competition for Lukaku.
Lukaku is wanted back at Everton after a successful loan spell under Roberto Martinez, but there is plenty of interest in the Belgian hitman.
And Russian club Zenit are looking to blow their competitors out of the water with a £20m offer.
Totteham would also like to sign Lukaku permanently but Zenit can offer the 21-year-old Champions League football.