Daniel Levy is set to hold talks with Real Madrid over Gareth Bale within the next 24 hours, reports The Daily Mirror.
The general consensus is that Tottenham have conceded defeat in their hopes to keep the Welshman at White Hart Lane, but will hold out for a large fee from Madrid.
Current Real Madrid president Florentino Perez has organised a summit with Levy in Miami, where Madrid are currently continuing their pre-season tour. It is thought that the two owners will attempt to finalise a deal regarding Bale's future, although it's likely neither will offer any leeway in the negotiations.
Tottenham's director, Keith Mills, yesterday sparked further speculation about a potential transfer when.
"If a player is desperate to leave, it's very difficult to force him to stay. We've seen it in other clubs,” he stated.
"Even if he has a contract, you can't force somebody to play for you."
That may be the case, but a deal is far from done. The Spanish giants are rumoured to be interested in making a player-plus-cash offer for Bale, with Fabio Coentrao, Angel di Maria and young forward Alvaro Morata topping the conventional list of suggestions.
There remains a potential stumbling block with this approach however as Spurs aren't thought to be that interested in Coentrao. Di Maria wants to stay at the Bernabeu and Madrid boss Carlo Ancelotti is keen on retaining the services of Morata.
Tottenham have so far strengthened their squad substantially this summer as they look to go one better than last season and achieve Champions League status.
Roberto Soldado, Nacer Chadli and Paulinho have all arrived at White Hart Lane, but it's hard to ignore the fact that losing Bale would be a massive dent, particularly when it's considered that Madrid intend on paying whatever astronomical fee the parties agree on, in instalments rather than a lump-sum.
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