Tottenham and Real Madrid have moved no closer to agreeing a fee for Gareth Bale after a fresh round of talks between the two clubs ended in stalemate on Tuesday, reports the Telegraph.
Florentino Perez and Daniel Levy met in the United States earlier this week in an attempt to thrash out a deal but it is believed the two parties remain £18million apart in their respective evaluations of Bale.
In the second round of discussions between the two clubs, Perez increased his initial offer to £86million but Levy, who is on vacation in the States, still believes the Welshman is worth £104million.
Levy is still willing to accept less than his evaluation if Alvaro Morata was offered in exchange but Perez is reluctant to give the Spanish Under-21 player away.
The Tottenham chairman is under no illusions however, and knows that any amount of money in the bank will be of no use to the team come the start of the season.
Levy wants any deal to benefit the Tottenham squad immediately.
Bale has told the club that he would like to leave for the Spanish capital but Levy is known to be one of the toughest negotiators in football and won't let him leave unless to deal is right for Spurs.
His willingness to meet with Perez for a second time does indicate that he is prepared to let his star player go.
Tottenham will take part in their last pre-season friendly against Espanyol at White Hart Lane and it is understood that Bale will not be involved as negotiations continue.