The Switzerland ace has been earning rave reviews for his performances on the domestic and international scene throughout 2014, during which time he helped his nation to the last 16 at the World Cup.
Both Arsenal and Spurs were watching over the summer, yet moves failed to materialise.
However the north London duo are now back in the fight as plans for the January transfer window kick into gear.
The Gunners would appear to be frontrunners, with Arsene Wenger’s defensive options having been heavily reduced by injuries.
The Frenchman sold Thomas Vermaelen to Barcelona a few months ago, and has since seen his backline options cut to just five experienced players following fitness concerns.
Spurs are also in the running, even though Mauricio Pochettino brought Federico Fazio to the club late on over the summer.
Schar, 22, was valued at £10m during the last window, but with his contract due to expire at the end of the season Basel are likely to reduce their demands significantly.
The centre-back was working as a bank clerk just four years ago.
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