Holland manager van Gaal, 62, is poised to leave his position as national team boss after the World Cup in Brazil this summer, with former Chelsea and Anzhi Makhachkala boss Guus Hiddink already confirmed as his replacement once the tournament is finished.
This has sparked rumours that van Gaal is set to return to club management, having made his name as manager of Ajax, Barcelona and Bayern Munich during a trophy-laden a career which has seen him establish a reputation as one of the finest managers in Europe.
Spurs boss Tim Sherwood looks unlikely to keep his job after an underwhelming spell in charge since replacing Andre Villas-Boas back in December, whilst United boss David Moyes should keep his job despite a disappointing first season at the club.
As a result, both clubs have been tipped to make a move for van Gaal this summer - but could be disappointed as speculation suggests van Gaal would prefer to take over from Arsene Wenger at Arsenal should the Frenchman leave the Emirates Stadium.
Wenger's contract in North London expires at the end of the campaign and after nine years without a trophy, many Gunners fans believe it's time for change - particularly with the club struggling to fend off Everton in the race for the fourth and final Champions League place.
There are growing concerns that Wenger will leave the club at the end of the season, and it appears van Gaal is prepared to wait until Wenger's future is determined before deciding his own.