El Nacional says Spurs and Arsenal are aware of the situation with Coutinho and are keeping tabs on the midfielder.
The Gunners were busy in the transfer market over the summer and spent just under £150m as head coach Mikel Arteta attempts to try and rebuild the squad following their recent period of underachievement.
On the contrary, Tottenham's business was focused more on making minor improvements scattered around the team, with the priority instead being to keep striker Harry Kane at the club.
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