The Premier League pair have both been linked with the Brazilian attacker in recent months with claims that he has grown unsettled in his home country circulating.
Spurs were said to have failed with a late offer for Pato over the summer, while Arsenal have been mentioned as potential suitors with Arsene Wenger desperate to land a top class forward to supply Olivier Giroud with some cover.
Despite Pato being one of the biggest names in Brazilian domestic football, Corinthians director of football Roberto de Andrade says that the club are willing to negotiate a deal with interested parties:
“When we bought Pato, it was because it was an opportunity, he is a great player,” he is quoted by The Express.
“He is a kid – still very young – we don’t regret it. He will make the fans very happy.
“We can negotiate about him, like any player. But in order to have a negotiation, there must be clubs interested in signing him and Pato so far has not asked to leave.”
Wenger and Andre Villas-Boas are both keen to tie up deals for the 24-year-old, who only returned to his homeland earlier this year after a failed spell with AC Milan.