Antonio Conte has been lined up as Mikel Arteta's replacement if the Spaniard faces the Arsenal axe.
The Gunners boss has come under severe pressure as his side have started the Premier League with two defeats out of two, with no goals scored.
The Telegraph claims that the Arsenal board will give Arteta until October to prove he is the right man for the job.
And if he isn't, former Chelsea boss Conte is their preferred choice. The Italian is out of work after leaving Inter Milan in the summer following a historic title win.
Conte was in talks with Spurs to become Jose Mourinho's successor but opted to knock back their offer for a variety of reasons as he made it clear what he is looking for in his next role.
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The 51-year-old was worried that Tottenham's long-term goals did not align with his as he wants to manage a side with the potential of winning silverware.
He doesn't necessarily want to join a team that are contending for titles right away, but with scope to become one. Conte, at the bare minimum, wants to be joining a top-four side.
Conte was also anxious about the fact that Spurs' squad were in need of major surgery as they enter a transitional stage.
Harry Kane's uncertain future was also a sticking point for the former Juventus player as he didn't want to inherit a team that could potentially lose their best player as that would take them in the wrong direction.
Conte is in no desperate rush to go straight back into management following his exit from the San Siro and is willing to wait for a better opportunity to come around.
Conte discussed his reasons for snubbing Spurs with Gazzetta dello Sport: "I look for the projects instead and I am ready to stay at home if something is not convincing me
"It has to do with vision, honesty and principles. Generally, I like challenges and I’ve accepted many of them during my career.
"Even the top clubs I coached were never the favourites when I arrived.
"However, if there’s something that doesn’t convince me I prefer not to accept, regardless of the money."
Conte expressed his desire to experience managing a club outside Italy once again, however.
He added: "I would like to have more experiences abroad. I think that I am not someone who is happy with just a comfortable situation. I always chose the most difficult situation instead.
"As a player, I won everything it was possible to win, but I also lost a great deal.
"When you lose, it leaves within you the desire not to experience that again, so you do everything to transmit that to your players when you are a head coach. It all comes from your scars and wanting to avoid getting more."
