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Rovers chairman John Williams has admitted the club have received an enquiry about Reid but refused to confirm whether it was from Spurs.
Reid has just one year remaining on his current contract at Ewood Park but has so far not committed himself to a four-year deal on offer from the club.
The player initially claimed he would pledge his future to Rovers by signing the contract but his delay in putting pen to paper has only served to increase speculation the Republic of Ireland international is looking for a move back south.
Williams confirmed: "There has been interest from one particular club in Steven but that is of no interest to us."
Williams is clearly hoping to persuade Reid to stay with Rovers but may find that difficult if Spurs, as expected, follow-up their interest with a higher offer for the 25-year-old.
Tottenham coach Martin Jol remains keen on adding Reid to the growing number of talented young players at White Hart Lane and Spurs are unlikely to give up on a player who they have tracked for some time.