De Zerbi spoke to ESPN this week ahead of Monday's Premier League fixture against Leeds United — a meeting loaded with significance given Gray's origins at Elland Road — and delivered the most emphatic public endorsement the player has received from any manager.
"He is very young but has great potential as a player. I think he can become the future. I am sure he can become the future of this club and the captain of this club."
De Zerbi also addressed Monday's match with the focus of a manager who knows his side cannot afford complacency.
"We have great respect. We cannot think any other way. We must maintain this mentality. We must keep humble. Nothing changes. We must prepare for an important match."
Gray joined Tottenham from Leeds in the summer of 2024 for £30million and has made 23 Premier League appearances this season, contributing two goals and two assists. He is comfortable operating as a central midfielder or at right-back and is contracted to the club until 2030.
Bayern Munich and Borussia Dortmund were monitoring the player closely. Liverpool hold an interest, while Real Madrid have also been credited with admiration. Liverpool are described as actively exploring a move worth up to £60million.
Tottenham sit 17th in the Premier League, one point above the drop zone with three matches remaining. Relegation to the Championship would likely force the club to sell key assets regardless of contract length, with Gray among the players most certain to attract immediate offers.
De Zerbi signed a five-year contract when he took over in late March as the club's third manager of the season. He has guided Tottenham to seven points from three games but the gap to safety remains tight. If Spurs go down, the words about Gray's captaincy future may ring hollow very quickly — and Liverpool, Bayern and others know it.