The ex-Bayern Munich youngster, 22, has been one of this season's standout performers in Serie A, where Bologna find themselves in the mix for Champions League qualification.
A number of top clubs are said to be keen on Zirkzee, who has scored seven goals in 15 league appearances this term.
Zirkzee has scored 10 goals in 37 games for Bologna overall (Image credit: Getty Images)
According to 90min, Man United and Arsenal intend to continue monitoring the former Netherlands U21 international – who is also eligible to represent Nigeria at senior level through his mother – until the summer.
The report adds that United have already held initial discussions over a potential move for Zirkzee – who joined Bologna in August 2022, having previously spent a brief time in Serie A on loan at Parma.
Zirkzee has worn the Bologna captain's armband on occasion (Image credit: Getty Images)
However, both Premier League clubs could find themselves powerless if Bayern decide to come back in for the towering six-foot-four centre-forward: Bologna director Marco Di Vaio recently confirmed that the German giants have an option to buy Zirkzee back for €40m (£34.3m).
"[Zirkzee] is unlike anyone else, a unique piece," Di Vaio told La Gazzetta dello Sportlast month. "[The €40m clause] only applies to Bayern. For other clubs, the price is variable."
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That would appear to mean that Bologna will demand a higher fee for any suitors other than Bayern. Zirkzee is currently valued at €30m (£25.7m by Transfermarkt) and has two-and-a-half years left to run on his contract in Italy.
Tom Hancock started freelancing for FourFourTwo in April 2019 and has also written for the Premier League and Opta Analyst, among others. He supports Wycombe Wanderers and has a soft spot for Wealdstone. A self-confessed statto, he has been known to watch football with a spreadsheet (or several) open...
