The Premier League's north London rivals are set to fight it out to snap up Jonny Evans on the cheap if West Bromwich Albion are relegated this season.
Evans would be free to leave West Brom for that tiny fee at the end of this term if Alan Pardew's men fail to pull off a spectacular escape from the drop zone in the final weeks of the current campaign.
(You may also be interested in Tottenham legend Blames Jose Mourinho for Trying to Unsettle Toby Alderweireld)
And, despite being part of the infamous Barcelona stolen taxi incident in February, interest would be high in landing the Northern Ireland international's signature.
Spurs would need to bring in a new centre half if contract rebel Toby Alderweireld fails to make a breakthrough in his negotiations over a new lucrative contract at White Hart Lane.
The Belgium international is interesting Manchester United, Paris Saint-Germain and Barcelona as his future with Tottenham looks increasingly uncertain, and Evans would help to plug that gap in Mauricio Pochettino's squad.
Arsenal's interest in Evans, meanwhile, is long standing. The Gunners have been keeping tabs on the ex-United defender for almost 12 months and need fresh legs in their backline as Per Mertesacker's retirement date draws ever closer.
Evans wouldn't be more than a stop gap at either club at 30 years of age, but his experience of England's top flight would be vital in helping the duo try and make a fist of winning the league title at some point in the next couple of seasons.
Evans' stock hasn't fallen too much in spite of him being part of the West Brom contingent who stole a taxi while on a warm weather training camp in Catalonia last month.
That incident has had a huge impact on West Brom's season, with beleaguered boss Alan Pardew unable to arrest a slide down the league to the bottom of the standings.
West Brom are 10 points adrift of 17th position and only have seven games left to save their bacon or the Championship awaits without Evans in tow.