According to transfer journalist Fabrizio Romano, De Zerbi regards Tonali as the ideal fit for the possession-based system he is installing at Spurs, and the north London club are prepared to face competition from Manchester City and Arsenal to land the Italy international.
Manchester United had been the most prominent suitors for Tonali earlier in the summer, but they have now pulled out of the race.
Romano reports that United directors concluded that Tonali's combined cost — both the transfer fee and wages — represented too large a financial commitment relative to the other midfield additions they are already making this window.
"Manchester United are not going for Sandro Tonali at this stage," Romano said.
"Manchester United has been interested in Tonali for some time, and he's been on Manchester United's shortlist, but now Manchester United believe that the player is too expensive."
Tonali made 110 appearances for Newcastle United across all competitions, becoming one of the club's most important players after arriving from AC Milan in 2023 for around €70 million.
He helped Newcastle win the League Cup in the 2025-26 season and has established himself as one of the most complete midfielders in the Premier League despite a difficult introduction to English football following his betting ban.
Arsenal have maintained dialogue with Tonali's camp since January and remain interested, while Manchester City view him as a backup option should their pursuit of Elliot Anderson fall through.
Newcastle are under no pressure to sell. Tonali is contracted until 2028, and Eddie Howe's club are expected to demand at least £100 million before entering serious discussions.
Tottenham face the additional challenge of having no European football to offer next season, having narrowly avoided relegation in the 2025-26 campaign, finishing 17th for the second year running before securing survival with a 1-0 win over Everton on the final day.
De Zerbi is expected to make the argument that the project he is building at Spurs represents a genuine opportunity for Tonali to be a central figure in something new.
The Spurs rebuild is already under way, with Andy Robertson and Marcos Senesi arriving on free transfers from Liverpool and Bournemouth respectively.
Midfield, however, remains the most urgent priority, with Yves Bissouma set to leave when his contract expires, Xavi Simons facing a lengthy spell on the sidelines after suffering an ACL injury, and Joao Palhinha returning to Bayern Munich after his loan spell expired.
Whether Tottenham can persuade Newcastle to sell one of their marquee assets, and Tonali to join a club without European football, remains the central question surrounding this pursuit.