Hoddle was a boardroom guest of Spurs for victory over Swansea City on Sunday.
He told talkSPORT: “I was at the Swansea game at the weekend and had a good chat with Daniel Levy.
“He’s ambitious and believes, if Bale was to stay, that Tottenham could go on and do something really strong in the Premier League.
“It’s difficult for Daniel Levy to stop a player joining Real Madrid,” he added. “When they come knocking, and the lad wants to go, it’s difficult to say no.
“I’ve never seen a Spurs side look so powerful physically but they need someone, dare I say it like Gareth Bale, who can change the game.
“Now, if they are preparing for life without Bale, then they definitely need to go into the market and buy a replacement who can open the door, but you can’t pick that sort of player up easily.”
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