Overmars spent three seasons in North London between 1997-2000 and became a cult hero with supporters, helping the side win a Premier League title and FA Cup.
He is now building his reputation as a canny operator behind the scenes as director of football with Dutch giants Ajax.
De Telegraaf says he has his eyes set on making a move to another European elite club in the near future.
Their chief writer Valentijn Driessen wrote: "At Ajax, everything in terms of transfers ends up on the plate of director of football affairs Marc Overmars.
"He has been associated with those two clubs before."