Real Madrid president Florentino Perez refuses to break the bank for Tottenham star Gareth Bale.

The Mirror says Perez has set a £45million limit on their pursuit of Bale.

Tottenham chairman Daniel Levy has made it clear they are not going to sell Bale, even though Real are putting together a huge package in terms of transfer fee and contract.

Perez is prepared to offer a straight cash deal of £45m or a player-plus-cash deal, which will include either striker Gonzalo Higuain or winger Angel Di Maria.

Real are understood to have already made discreet enquiries - and have been sent packing by the north Londoners, who are determined to keep Bale.