Jota was a £25million buy for Saudi Arabian side Al-Ittihad over the summer.
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However, Spurs are now considering a move for the winger after Saudi Pro League rules stated he could not play.
The Saudi club signed nine overseas players as part of their big-money raid on the European transfer market.
But Pro League rules state only eight can be registered to play in their squads.
This means Jota, 24, will see his minutes limited to AFC Champions League or Club World Cup games.
The Mirror report Jota saw a request to terminate his contract rejected.
Al-Ittihad boss Nuno Espirito Santo wants to keep the Portuguese for the long-term, with the former Wolves and Spurs boss saying the issue was an “internal matter”.
Regardless, Jota will weigh up his options in January.
Jota worked with Spurs boss Ange Postecoglou at Celtic, with the pair possessing a strong working relationship.
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Upon being appointed Spurs manager, Jota wrote on Postecoglou: “To a man who gave me a life opportunity, never lost belief in his philosophy and marked an era.
“I’ll forever be grateful for every moment. Best of luck gaffer!”
Spurs have suffered a long-term injury to one of their main wide options in Ivan Perisic after he was hit with an anterior cruciate ligament blow in his right knee.
With the Croatian potentially out for the season, a reunion between Jota and Postecoglou in north London may be on the cards to remedy the situation.
On the loss of Perisic ahead of the North London derby, the Aussie tactician said: “It’s disappointing for us because he’s been a really important part of what we’ve done so far.
“We don’t have a great experience in the group and he’s one that does have that level head and he’s been pretty significant in our games so far and in big moments.
“So like I said, disappointed for him and disappointed for us in terms of what we’re trying to build.
“He’s very strong willed and I’ve got no doubt he’ll come back for club and country and get back to the levels he showed before he got injured.”
Perisic had featured off the bench in all of Tottenham’s five Premier League games prior to the Arsenal clash.
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