Tottenham and Arsenal are both planning for a summer in which they will not be able to spend any money, according to the Daily Telegraph.
The newspaper suggest Chelsea, who have been widely tipped to make big-money signings, are preparing to spend, as are Manchester United, but that Spurs and Arsenal are mainly looking at potential free transfers and loans.
One of those potential free transfers is Willian, whose Chelsea contract expires this summer.
The Telegraph say the north London clubs are competing to sign the Brazilian, who looks likely to move on after eight years at Stamford Bridge.
Willian, 31, has indicated that he wants a three-year contract and has only been offered two additional years by Chelsea, who are generally reluctant to offer longer-term deals to players over the age of 30.
He has a close relationship with Tottenham boss Jose Mourinho, having played under him at both Chelsea and Manchester United.
Mourinho is likely to have his budget affected by the suspension of football due to the coronavirus outbreak and it appears his Arsenal counterpart Mikel Arteta is in the same situation.
Chelsea, on the other hand, are in a strong position after not spending during the past two transfer windows – and having sold Eden Hazard to Real Madrid.
Blues boss Frank Lampard is keen to add to his attacking options and has been linked with a host of players.