Butt has had a transfer request reluctantly granted by Manchester United, after falling down the pecking order at Old Trafford, and is worried his Euro 2004 place with England is in jeopardy because of it.
The 28-year-old, also a target for Birmingham and Middlesbrough, is somewhat of a home bird and may consider a loan switch a more attractive option as he would undoubtedly walk into Spurs' starting XI.
This would keep him in the eye of England coach Sven Goran Eriksson, before returning to The Red Devils ready to challenge for a first-team place next term.
However, one player the North London club will not be welcoming to their ranks is Leicester star Izzet, after Pleat said he was not interested in the Turkey international.
Pleat said: "We are not interested in Izzet. I am quite happy with the midfield apart from the possible addition of someone with leadership type qualities.
"We are looking at the possibility of bringing someone in like that on loan. This is likely to be a Premiership player who has been displaced from the first team."
Although Butt is not a leader in the vocal, chest beating sense, he has bags of experience and a career stacked with trophies and medals and commands the respect of his fellow professionals.
He would toughen up a Spurs engine room that has looked fairly soft since the departure of Steffan Freund.
Spurs missed out on Dutch powerhouse Edgar Davids after he opted to swap Juventus for Barcelona until the end of the season, while Michael Brown has served his suspension and is in line for a debut against Liverpool on Saturday to add some creativity in the middle of the park.
Brown boosted his chances of making his debut against The Reds by scoring twice in the reserves' 5-0 win over Coventry on Monday. The former Sheffield United midfielder scored once in each half at Stevenage.
Helder Postiga opened the scoring and Jamie Slabber and Rohan Ricketts completed the rout.
In other news, Spurs have recalled youngster Mark Yeates from his loan spell with Second Division Brighton & Hove Albion.
