North London's rivalry may be shifting from the pitch to the transfer table. Tottenham and Arsenal are both interested in signing Christian Pulisic, with AC Milan reportedly valuing the winger between $75 million and $88 million.

The 27-year-old has become one of Serie A's most productive attackers this season. After an inconsistent spell at Chelsea, Pulisic has rediscovered consistency in Italy.

He has recorded eight goals and two assists in 17 league matches, making him Milan's top scorer and placing him joint second in the scoring charts behind Lautaro Martínez.

That level of output has drawn serious attention from England.

Milan's contract advantage changes the dynamic

Pulisic enters the final year of his contract this summer. Normally, that situation lowers a club's leverage. In this case, it does not.

AC Milan hold an option to extend his contract by an additional year. This clause significantly strengthens their negotiating position and explains why the club can demand a premium fee.

Italian and UK reports describe Milan as "extremely reluctant" to lose the American international. Their stance is tied closely to sporting ambition. The club remains in the hunt for Champions League qualification, and participation would increase both revenue and leverage in talks.

From a tactical perspective, Pulisic is no longer a rotation option. He has become central to Milan's attacking shape, showing sharper movement and improved decision-making compared to his final season in England.

Why Tottenham and Arsenal are in the race

Tottenham are expected to prioritize wide attacking reinforcements this summer. Analysts covering the club have highlighted inconsistency in front of goal and the need for additional depth. Pulisic offers Premier League experience and positional flexibility.

Arsenal, meanwhile, continue to build a squad capable of competing deep into domestic and European competitions. Additional attacking depth would reduce workload pressure during congested stretches of the season.

Reports from outlets including CaughtOffside suggest Spurs may have moved into an early leading position. However, no official bid has been confirmed, and Arsenal remain active observers.

What this means for the summer transfer window

The valuation is clear: $75m to $88m.

That figure represents a major investment, particularly for a player entering the final stretch of his contract. Milan's extension option gives them breathing room, reducing urgency to sell.

For Tottenham and Arsenal, the decision now becomes strategic. Do they commit heavily to a player at peak age who is thriving in Serie A, or pivot toward alternative targets?

The coming months will determine whether reported interest evolves into formal negotiations. For now, Christian Pulisic remains central to Milan's plans, and firmly on North London's radar.

This article is based on reporting from CaughtOffside and Football Insider, combined with publicly available Serie A statistical data and contract information from AC Milan. No formal transfer offer has been officially announced at the time of publication.