Spanish newspaper Marca reported that the La Liga club Real Madrid, are closing in on a six-year-deal for the 24-year-old.
But Tottenham's boss, Andre Villas-Boas continues to insist that Gareth Bale is not for sale.
"He's a Tottenham player, he's one of the most fantastic players in the world at the moment and we are counting on him for the future," said Villas-Boas.
"He's a player that we are willing to continue to have."
Bale, who won the Player of the Year and Young Player of the year last season, is under contract at White Hart Lane until 2016.
In May, Bale's agent, Jonathan Barnett told a Spanish television show that the winger would listen to an offer from Real Madrid if they agreed a fee with Tottenham.
Tottenham are currently on tour, in Hong Kong, ahead of the Asia trophy, which also features teams playing in the English Premier League, such as; Manchester City and Sunderland.
Bale, who scored 26 goals last season for Tottenham, will be unavailable for Spurs opening game against Sunderland on Wednesday.
"Unfortunately against Sunderland he won't be fit to play," said Villas-Boas.
"He's recovering from a knock he had in training so we expect him hopefully to have some involvement in the second game."
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