The Croatian youngster has strongly been linked with a move to Roma as well, but the Italians have apparently been priced out of a move.
Zoran Ban admits that Roma are not completely out of the picture, but reveals that Spurs and Arsenal have both contacted Dinamo about the 17-year-old.
"At a certain point, Dinamo raised their demands whilst Roma wouldn't improve theirs," Ban told calciomercato.it.
"Meanwhile, clubs like Arsenal and Tottenham have called Dinamo and are dealing with them.
"Would I say Roma are out of the game? In football you never know, anything can still happen."
Jedvaj capped an impressive season last year, with a call-up to the Croatian national squad.