Tottenham chairman Daniel Levy is set for high-level transfer talks with Real Madrid.

The two clubs enjoy a close relationship courtesy of Spurs' sale of Luka Modric to Real last summer.

Real are interested in Gareth Bale, though Levy insists the Welshman is not for sale and hopes to negotiate for players independent of any Bale deal.

On Levy's shopping list is Real winger Jose Callejon, fullback Fabio Coentrao and striker Gonzalo Higuain.

Higuain is being mooted as a replacement for Emmanuel Adebayor, who could return to AS Monaco in the summer.