Sports daily Marca, which is well known for its close allegiance to Real, also says that Bale will be paid 10 million euros a season and has already told Spurs he wants to leave.
However, this claim is in stark contrast to Andre Villas Boas' stance - the Tottenham manager re-iterating the club's position as recently as Tuesday morning.
Speaking at a press conference in Hong Kong ahead of the Asia Trophy, Villas Boas said: "On Gareth, I want to repeat what I was telling you last season and what I was telling you from the beginning of [pre-season] so I cannot extend myself.
"He is a player that we are willing to continue to have, 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."
Bale has never given any indication that he wants to leave White Hart Lane and, speaking two weeks ago following a preseason friendly, the Welshman spoke of his desire to push Tottenham toward Champions League qualification.
"I think everyone at the club wants us to finish in the top four, the club wants to be in the top four, and we need to go one better this season and finish in the top four," he said.