Late speculation linking the Newcastle United midfielder with Arsenal in the recent window raised eyebrows, even if a move was never realistic at that stage.
Now the focus shifts to whether that brief contact was a one-off… or the first sign that Tonali could truly become attainable.
From Newcastle’s perspective, the public message remains firm. Eddie Howe and other club officials are sending a clear signal that Tonali is a key part of their project.
Speaking after the Arsenal links emerged, Howe revealed he had spoken directly to the midfielder, and stressed that Tonali’s focus was entirely on Newcastle’s immediate objectives.
Tonali has started the majority of his Premier League outings this season, and it is true that he has not made any attempt to force a move.
However, the interest that surfaced around Arsenal was not entirely without substance.
While all parties denied it at the time, our sources indicate there were quiet conversations involving intermediaries, driven less by dissatisfaction at Newcastle and more by broader thinking around Tonali’s future.
Insiders close to the situation indicate that the midfielder and his family would ideally like to return to Italy at some stage, even if that preference has not yet translated into an active desire to leave.
That is crucial - and is one of the reasons Juventus are watching closely.
While all the talk in recent days has been of Arsenal, Juventus have identified Tonali as their leading midfield target for next season and view him as a player around whom they could rebuild their squad.
Juve have tracked him since his move to Newcastle and consider him a great fit stylistically and culturally. Within the club, he is seen as a fundamental signing rather than a luxury addition.
Yet if Tonali does become available in the summer, Juventus know their challenge is likely to be financial rather than sporting.
Newcastle’s valuation is understood to sit close to €90–100 million, reflecting both his importance to the team and his status as one of Italy’s leading midfielders.
Juventus, by contrast, are expected to be working with a budget of around €50–60 million for a single signing.
Matching or improving on Tonali’s current salary at Newcastle would also stretch their wage structure.
That would not be such a concern for Premier League clubs, and the brief Arsenal contact in January underlines that disparity. Liverpool, Chelsea and Manchester United have also been linked to Tonali, and all could offer higher wages than Juve.
It leaves Juventus relying on factors beyond pure financial power. Tonali’s affection for Italian football, his history in the league with AC Milan, and the pull of a central role at one of Serie A’s biggest clubs could yet keep them in the race - even if they cannot compete pound for pound with English rivals.
It’s worth noting that his old club AC Milan cannot be discounted, either.
For now, Newcastle continue to project a calm stance - but that will be tested over the coming months.
Juventus will push, Arsenal could intervene, and Newcastle will hold their nerve as long as they can.
Whether sentiment can bridge the financial gap may ultimately decide where Tonali plays next season.
