Punto Pelota says a scheduled meeting between Bale's representatives and Real Madrid officials was called off after it became apparent there was little enthusiasm from the player's camp to see a deal done.
Barcelona have also expressed interest, but Bale has shut the door on them after being disappointed with their behaviour towards both his agents and Spurs chairman Daniel Levy.
Levy is now ready to upgrade Bale's contract to a mooted £140,000-a-week and the winger is convinced Tottenham can challenge for top honours in the next two years.
Can Bale and AVB turn Spurs into contenders? Give us your shout below...