Juventus' Juan Cuadrado
Cuadrado is wanted by both North London sides with the paper reporting he would be available at £30 million.
Cuadrado has played in England before, having a short stint with Chelsea.
He lasted only six months with the Blues, with manager Jose Mourinho failing to utilise him correctly.
Mourinho barely gave Cuadrado a chance, handing him just 15 appearances before sending him to Juventus on loan.
This loan deal ended up being made permanent and Cuadrado has gone on to win two successive titles in Turin.
The mazy dribbler has an eye for the spectacular and as well as playing as a winger, can adapt and feature at wing-back.
This past season he provided seven assists, although his campaign ended on a low note as theatrics from Sergio Ramos saw him handed a harsh red card in the Champions League final defeat to Real Madrid.
Bayern Munich's Franck Ribery and Juventus' Juan Cuadrado in actio
Cuadrado still has plenty to offer at 29, even if the Juventus' price tag seems high.
If Mauricio Pochettino or Arsene Wenger are convinced to make a move on him, they can make Jose Mourinho look silly in the process.
The current Manchester United boss' time at Chelsea was littered by acting too harshly on players who have gone on to prove him wrong.
Manchester United manager Jose Mourinho
Kevin De Bruyne, Romelu Lukaku and Mohamed Salah have all gone on to greater things after being passed over by the Special One, and Cuadrado's career has not suffered either.
Now should one of the North London giants bring the Colombian back to the Premier League, they can provide him with a stage to really rub it in.