Tuttosport claim both north London clubs are keen to bring the 22-year-old, who was once dubbed ‘Napoli’s Messi’ by teammate Goran Pandev, when the transfer window re-opens this summer.
Insigne has endured a frustrating campaign under Rafael Benitez at the Stadio San Paolo, scoring just two Serie A goals all season. However, Arsenal and Tottenham remain convinced that the youngster - who measures 5ft 4in tall - could become a star in the Premier League.
Napoli are in no hurry to sell the forward, though, even if they manage to secure the services of Manchester United playmaker Shinji Kagawa. The Japan international has been strongly linked with the Italian club in recent weeks, although his agent tried his best to play down the significance of the speculation earlier this week.
The signing of Kagawa would pave the way for Arsenal or Tottenham to complete the purchase of Insigne, who has played most of the season in a wide position following the arrival of record signing Gonzalo Higuain from Real Madrid last summer.
Arsenal boss Arsene Wenger will look to bolster his squad in a number of key areas this summer, while Tottenham chairman Daniel Levy is expected to confirm the departure of manager Tim Sherwood before a new manager is appointed after this weekend’s final batch of Premier League fixtures.