Spurs, who are currently managerless following the sacking of Harry Redknapp, are already resigned to losing midfield talisman Luka Modric, and it appears that other stars may follow him out of White Hart Lane.
Van der Vaart, who spent three years with the German side before moving to Real Madrid in 2008, has made no secret of the affection he holds for his old club, but admits they have not yet been in touch with his current employers or his agent about a potential move.
"I am happy and I am surprised myself by how much I still love Hamburg, but currently however there is no contact," he told German newspaper Bild.
Hamburg are bankrolled by billionaire shipping magnate Klaus-Michael Kuhne, and the 75-year-old has pledged to plough more money into transfers this summer.
"I am an investor for new players and am definitely available," Kuhne said.
His comments were not echoed by director of football Frank Arnesen, however, who stated that the club must first sell before buying.
"In order to even be active in the transfer market, we need to sell players first," Arsesen revealed.Hamburg have already released Mladen Petric and Soren Bertram from their ranks this summer. On the other hand, HSV have welcomed Rene Adler and Artjoms Rudnevs as new additions to their squad.