Arsenal and Manchester United lock horns for £42m-rated midfielder - report
Kulusevski is on loan from high-flying Serie A side Atalanta and is making quite the impression.
The midfielder has featured in 13 top-flight matches so far this season, scoring three goals.
Originally from Sweden, Kulusevski moved to Italy in 2016 and came through the ranks at Atalanta.
Kulusevski sealed his loan move to Parma last summer after nobody took interest in a permanent move - despite his low £8.5m valuation.
Now, after a fast end to the year, the 19-year-old is reportedly valued at £42m and Atalanta will look to cash in next summer.
The Premier League duo are believed to be weighing up bids for the teenager.
It's understood that Kulusevski has already been in contact with clubs regarding a move as they look to do a deal sooner rather than later.
This is because Kulusevski is widely expected to make the Sweden squad for Euro 2020 next summer.
Some suitors would rather come to an agreement before the tournament in case the player's value increases further.