Bale had made it clear he wanted to leave Spurs for the Spanish capital, and it looks like he may have finally got his wish after chairman Daniel Levy managed to negotiate a fee of £93 million with the nine times European champions.
The deal is said to include Fabio Coentrao, who has made it clear that he would like a move away from the Bernabeu, with Gianluca Di Marzio breaking the news via twitter in a series of tweets.
Sky Italia's Di Marzio later tweeted to say the figure was £93 million rather than €93 million (£80 million).
While Bale's playing influence at White Hart Lane was vast as they reached a record Premier League points haul, Andre Villas-Boas has already made some pre-emptive strikes in the transfer market to negate his possible loss.
The White Hart Lane club have already brought in over £50 million worth of talent in the shape of Etienne Capoue, Spain striker Roberto Soldado, Brazil midfielder Paulinho and Belgium winger Nacer Chadli.
While reports have emerged that Spurs are on the verge of signing Willian from Anzhi Makhachkala in a £30 million deal.