The 26-year-old, who had been sidelined with a ligament tear sustained in a Betway Premiership clash against SuperSport United earlier this year, had previously been linked with moves to both Soweto giants.
At the time, Pirates were reportedly leading the chase, but the injury stalled any transfer plans. Now, Matuludi's resurgence has reignited speculation ahead of the January transfer window.
"I expect the clubs you've mentioned to come back for him because he's back to his best. It will be interesting to see if Polokwane City are willing to sell, but I'm certain the two big clubs will try again — it's just a matter of time,” a source close to the player told Phakaaathi.
Matuludi is currently part of Bafana Bafana's squad for crucial FIFA World Cup qualifiers. He was an unused substitute in South Africa's goalless draw against Zimbabwe at Moses Mabhida Stadium last Friday, with the national team now preparing for a must-win fixture against Rwanda to keep their qualification hopes alive.
For Pirates and Chiefs, the player represents a rare opportunity to add a defender who combines pace, tactical awareness, and international experience. Both clubs are believed to be monitoring his progress closely, with the January window potentially offering the perfect chance to secure his signature.
With the Limpopo-born centre-back at his best, Polokwane City face a dilemma: hold on to their star right-back or cash in while two of the country's biggest clubs are circling.
The coming weeks could well decide whether the Rise and Shine defender makes the high-profile move that many fans have long anticipated.