The two clubs have reportedly been in talks for some time, and Coates has revealed his club would not budge from their latest offer.
He told BBC Radio Stoke: "We've made our last bid. The ball is in their court. We shall not be negotiating from where we are."
He added: "The last conversation I had with Spurs, we had not agreed anything. We'll see what happens, but we haven't got any further."
England forward Crouch, 30, began his career at White Hart Lane as a trainee and returned to the club two years ago for reported fee of around £9million after spells with sides including QPR, Portsmouth, Aston Villa, Southampton and Liverpool.
He scored 11 goals in 45 appearances in all competitions for Harry Redknapp's side last term, having netted the winner at Manchester City in May 2010 to secure fourth place for Spurs in the Barclays Premier League.
Honduras midfielder Palacios, 27, joined Tottenham in January 2009 in a £12million transfer from Wigan. He had moved to the north-west of England from Honduran club Olimpia after a brief loan spell with Birmingham.
Source: PA
Source: PA