HLN says the 20-year-old forward has been on the radar of the Premier League rivals this season.
Both United and the Gunners are monitoring his situation and have made initial approaches to his agent Nick Mavromaras.
Belgian outfit Gent are reportedly keen to keep hold of the Canada international and no offer has been put on the table.
The youngster put United and Arsenal on red alert earlier this season when he expressed his desire to move to England's top flight.
David has impressed this campaign, notching 23 goals and providing 10 assists in 40 appearances.
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