The Telegraph are reporting that all three of Chelsea, Southampton and the north London side are interesting in the talented 26-year-old defender.
But both Tottenham and the Blues will have to pay £3m more than the Saints if they want to sign the Atletico Madrid man, the report explains.
This is due to a clause in Alderweireld's loan agreement with Southampton that says Atletico must pay the Saints a compensation fee of between £2m and £3m if the La Liga outfit sell the Belgian to another club.
Naturally, then, it makes sense for Atletico to priortise a sale to Southampton or demand an extra fee that would cover the compensation from Spurs, Chelsea or any other potential suitors.
Tottenham struggled with their back line last season, conceding a disproportionate amount of goals for a side that eventually finished fifth in the Premier League. Whether the north London club can attract the 26-year-old will depend on how much they are willing to pay, though, as well as their ability to defeat the competition in luring Alderweireld to White Hart Lane.