White Hart Lane and Bernabeu outfits agree price for Welsh winger.
Tottenham owner Joe Lewis and Real Madrid president Florentino Perez are said to have reached agreement over a fee for Welsh international Gareth Bale during a ‘secret’ meeting in the United States according to Spanish source AS.
Though the La Liga side were keen to offer €96m (£82m) with Bernabeu pair Angel Di Maria and Fabio Coentrao as makeweights the North London side have insisted an outright cash offer of €120m (£103m) which the La Liga side have begrudgingly agreed to pay.
Real Madrid would pay €20m (£17m) up front with the rest of the balance paid in installments over a six year period and if this is indeed the case and that both sides are amenable to the terms it would appear that Bale is set to be on his way to the Spanish capital.
One can see why Real Madrid would be reticent about forking out the entire world record sum in one go though it is perhaps surprising that Tottenham would accept the majority of the £103m outlay spread over such a wide period of time and may well lead some to imagine that there could be a fair amount of interest added on top of such a deal to make the offer worthwhile for the Premier League side.
Andre Villas-Boas has already spent upwards of £40m to bring in Paulinho, Nacer Chadli and Roberto Soldado but one would imagine the Portuguese boss would look to bring in a number of other big name additions if he does indeed lose his most effective attacking weapon.
Real Madrid have also had a busy summer thus far though Perez has cleverly covered the cost of signing the likes of Isco and Asier Illarramendi by cashing in on Jose Callejon, Raul Albriol and Gonzalo Higuain who all moved to Napoli for a combined fee of €61m (£52m).