The Wales international is the subject of a reported £85 million bid by the Spanish giants, but which Bernabeu player could interest Spurs in return?
If Bale does leave White Hart Lane, Spurs could also join another long-running summer transfer saga, according to reports.
Read on to find out more.
The Wales international is the subject of an £85 million offer from the Bernabeu club, as Sky Sports reported, but Spurs chairman Daniel Levy will also ask for Modric on top of the world-record fee, according to Lewis' article.
The Croatia international left the North London club for Real a year ago in a £33 million move, but he failed to make an impact on the first team under Jose Mourinho.
According to Lewis, Real left-back Fabio Coentrao and winger Angel Di Maria have been offered before in the Bale deal, but Modric is of greater interest to Spurs.
Meanwhile, the Daily Mail has reported that Tottenham will turn their attention to Liverpool striker Luis Suarez if Bale leaves White Hart Lane. Any move for the Uruguay international would put Spurs on a collision course with local rivals Arsenal, who have already bid for the forward this summer, as John Cross of The Mirror reported.
The Brazil international has been the subject of speculation linking him with a move to the European champions this summer, as Ben Rumsby of The Telegraph reported.
But Chelsea will not consider any offer below the £60 million mark from Bayern head coach Pep Guardiola, according to Custis.
Luiz, 26, was one the Blues' most impressive performers under interim Chelsea manager Rafael Benitez last season.
Barton, who supported the Goodison Park club as a boy, has returned to QPR after spending last season on loan at Olympique de Marseille.
According to Nixon, the 30-year-old is willing to take a massive pay cut to join the Merseyside club. Everton manager Roberto Martinez is reportedly "giving the idea serious thought."
The controversial Barton, who has not played in England since his dismissal at Manchester City on the final day of the 2011-12 Premier League season, recently topped a poll as the footballer most British men wanted to punch, according to The Metro.
Napoli will have to pay almost £35 million if they want to add FC Porto striker Jackson Martinez to their ranks this summer, according to Sky Sport Italia (via Goal.com).
The Colombia international has a buyout clause with the Portuguese club, says representative Manuel Monzo, who has also revealed that the forward has agreed to terms with Napoli.
But a successful transfer rests with the Italian club activating Porto's clause for Martinez.
According to the report, the Spain international is a potential replacement for Roberto Soldado, who has been strongly linked with a move to Tottenham this summer.
Torres joined Chelsea for £50 million from Liverpool in January 2011, but he has failed to hit the same heights at Stamford Bridge as he had at Anfield.
Valencia will turn to Torres after being rejected in their hopes of signing Olivier Giroud from Arsenal, according to the report.