The Tunisian is almost certain to leave Ajax after falling out with the club over his contractual situation, with Ronald Koeman vowing not to field a player he does not feel is committed to the cause.
Trabelsi was seeking a free transfer, but the Dutch courts came down in favour of Ajax - meaning the Amsterdam giants can demand a sizeable transfer fee.
Despite Ajax being able to command a fee for his services, interested parties have not been put off and a move is set to be thrashed out in the near future.
Premiership champions Arsenal have been leading the chase for some time, but Newcastle United and one other club are still in the race - according to Trabelsi's agent.
"Arsenal and Newcastle are both in contention to sign Hatem," said Trabelsi's agent Frank Sedoc. "But there is also interest from another club.
"Ajax are ready to let him negotiate with other clubs from tomorrow."
The lure of UEFA Champions League football makes Arsenal strong favourites to secure the rampaging full back's signature, but Magpies chief Sir Bobby Robson has still not given up hope, as he seeks out defensive reinforcements.
Ajax, meanwhile, have allowed Ghanaian forward Kwame Quansah to take a trial Heracles Almelo.
The 21-year-old is still under contract at Ajax but has been told he can move on and he could win a deal at Heracles if he impresses.
