Real Madrid striker has placed Europe's top clubs on alert after indicating this season will be his last at the Bernabeu.
The Argentine has scored 12 goals in La Liga in 16 starts this season, plus five substitute appearances and has five assists to his name too.
Two clubs immediately linked with his signature are the Champions League chasing duo of Arsenal and Tottenham Hotspur, who could both do with a player of Higuain's calibre to boost their respective attacks next season.
You might think that whoever wins the battle to finish in the top four would hold the advantage to sign the international striker, but perhaps not.
Tottenham could just hold the ace regardless, and the reason is the partnership announced between the club and Real Madrid last summer in the wake of the Luka Modric deal.
The fruits of the agreement are yet to bear, and so in light of such a statement as above it would be a real surprise to see Real Madrid mark the beginning of their own transfer activity by selling a £20 million plus striker to Spurs' main rivals.
Now we all know money talks, and if Arsenal match Madrid's asking price, a deal could very well happen, but if Tottenham really want to, they could try to scupper such a deal.
Whether Spurs go in for Higuain or not, they could make Madrid's transfer negotiations tricky if Daniel Levy got in contact with Florentino Perez to kick up a fuss.
He has two cards to play, to threaten to withdraw from the agreement - which may not bother Madrid greatly, although it would be damaging to relations between the clubs, and the second is to offer Madrid first option on Gareth Bale.
While some reports in Spain have already claimed such a deal is in place, there is no verification of that, so Spurs could still yet play that card, which would not really see them lose anything - such a clause would only come into play if they decided to sell, but it would be a tempting carrot for the Spaniards.
Higuain may see himself at a club like Manchester City instead, who have a better chance of fighting for the title than either of the North London duo and are also said to be interested, and it's unlikely Spurs would kick up as much of a fuss.
But if Arsenal emerged as serious contenders for the striker, at this stage it is just paper talk, the possibility of Spurs trying to use their muscle to scupper such a deal and steal in themselves is an intriguing one, very much possible, and a potential storyline to follow this coming summer.
Do you think Spurs have the power to stop Madrid selling Higuain to Arsenal? Would Madrid listen?
image: © Jan S0L0