After another topsy-turvy season in North London, both sides seem ready to finance their push to leapfrog the other into the top four of the 2013/14 season.
Spurs have been quietly making sublime additions to their squad, yet still are sweating over the situation of last season's Young Player, and Player of the Year winner.
Andre Villas-Boas has done his work early in the transfer market, unlike his opposite number, Arsene Wenger.
The Portuguese has recruited stellar names, such as ex-Valencia hit-man Roberto Soldado and Brazilian engine, Paulinho.
However, it seems Spurs' busy transfer season hasn't stopped yet with the club now targeting Danish ace Christian Eriksen, with the Ajax starlet announcing he won't be signing a new contract at the Amsterdam Arena.
Eriksen may well follow the signing of Toulouse midfield powerhouse, Etienne Capoue - a former Arsenal target – after the club announced he would be moving to White Hart Lane on Thursday morning.
These two talented players should bolster an already impressive midfield, with Spurs already possessing the likes of Moussa Dembele, Sandro, Lewis Holtby, Paulinho and even Gareth Bale, if the club can convince the Welsh wizard to stay another year to boost the side’s aspirations to achieve Champions League football.
Arsenal have spent a few seasons looking for a top name to enter the fray at the Emirates, having last summer secured Spanish sensation, Santi Cazorla.
However, Wenger's side seems to need some more strengthening in order to restore the Gunners to their former glory.
Arsenal have been heavily linked with a move for Liverpool’s want-away front-man Luis Suarez, with the Uruguayan demanding an escape route from Anfield in his quest for Champions League football.
Wenger's side are also plotting a move for Bayern Munich's Brazilian holding midfielder, Luiz Gustavo, with the player recently stating that he needs consistent football to solidify his place in Brazil's midfield in time for the 2014 World Cup in his homeland.
Both Arsenal targets are proven talents currently playing for top clubs, and first team regulars for their countries - two things to which Arsenal fans will find promising aspects of the potential moves.
As it stands, both sides seem level in terms of quality, Tottenham will seem a stronger side if Bale is to snub a move to Real Madrid this summer and stay with the club and, as expected, Roberto Soldado continues his fine form into the new season.
However, this could all change if Arsene Wenger is successful in recruiting his chosen targets, and still has enough of his budget to bring in a few more experienced, talented leaders to stiffen up the ship.
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