Real Madrid president Florentino Perez has admitted that he feels his club would be overpaying if they spent £85m on Tottenham winger Gareth Bale this summer.

The transfer saga has been going on for months now after it was first reported that Madrid were keen on bringing Bale to the Bernabeu - no matter what the price.

And since reports were claiming that an £85m bid is on the table, the rumours and speculation continued to intensify.

Bale has remained very quiet about his own future and has refused to talk to the press about the transfer saga, but it is obvious to everyone that Madrid want to sign the 24-year-old.

Carlo Ancelotti, who is now manager at the Bernabeu, has already admitted that the two clubs are in formal talks about a possible transfer and the move is expected to be completed within the next fortnight.

It is thought that the deal will be worth around £85m, which would be a new transfer record, beating Cristiano Ronaldo's move to the same club by £5m.

Despite the deal ongoing, Perez has admitted that he feels he is overpaying in order to sign the Welshman.

"We are talking with a lot of people and we will see what comes of our negotiations, I am talking about that player (Bale) and others," Perez is quoted as saying to ESPN.

"I do not want to talk about players out of respect to the player himself (Bale), the club and the chairman (Daniel Levy) who is a friend of mine and with whom I struck up a good friendship last summer because of the transfer of Luka Modric.

"If we're not talking about names, we're not talking about money either, but 100 million (euros) seems a lot to me," he said with a smile. "But I am not talking seriously because there is no need and, as I said, out of respect for the club."


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