The Sunday Mirror reports that the Spanish giants are now planning to make a world record £85million bid to land Bale.
Friends of Bale now reportedly believes the Welshman’s future lies in Spain.
Spurs are keen to hand Bale a new £170,000-a-week contract, but there are fears at the club that the Welshman is keen on a move to Real Madrid.
Spurs boss Andre Villas-Boas has insisted that they will not be selling Bale this summer.
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Chelsea have struggled to build momentum in the opening stages of the campaign and are currently looking over their shoulders at the relegation zone.
Who of Europe’s top strikers will move to England this summer?