The Spanish club had hoped to do a deal before their season kicks off a week on Sunday but talks have broken down between Perez and Spurs chairman Daniel Levy in Miami as they are struggling to agree a fee.
Madrid still owe them money for the £33m transfer of Luka Modric and have offered players as well as a payment plan to cover the Bale sum in instalments.
Although Levy is not interested in that, Perez feels Bale’s desire to move to the Bernabeu has still put him in a strong bargaining position.
The Real president, according to Marca, has told club officials he expects Spurs to cave in under the pressure, even though the deal may not be done until the final day.
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