The Mail reports that Spurs are keen to negotiate a new deal with the Belgian, but the two parties are struggling to agree on the terms of the contract, with Alderweireld seeking a five-year deal which would see his wages move well above £110,000 a week - which is the figure at the top of Spurs' current pay scale.
Despite Alderweireld being under contract until 2019 and Tottenham having the option to extend that deal by a further year if they wish to, the fact that he would then be available for just £25 million is forcing Spurs to consider selling him during the next transfer window.
And that has alerted a number of clubs. What will prove particularly worrying for Tottenham fans however, is that amongst the likes of Chelsea, Manchester United and Real Madrid is the suggestion from the Mail that the Gunners may be keen if he becomes available.
Another Sol Campbell?
One of the most scarcely-believable transfers of the Premier League era involved the two clubs when Sol Campbell stunned everyone by swapping Tottenham for Arsenal, and that may make the most pessimistic of Spurs fans ever so slightly nervous about these rumours.
Of course, the situation is different this time in that Alderweireld is not going to be out of contract and thus, will not get to consider a move to the Emirates if Tottenham do not accept a bid - and Spurs accepting a bid from their bitter rivals seems about as likely as Manchester City being caught in the title race this term.
As much as Arsenal would love to have the 28-year-old in their ranks as their defence continues to struggle, the idea of Alderweireld moving from Tottenham to Arsenal seems unfathomable, and will probably not prove to be a transfer link that the Spurs fans are too worried about.