Real Madrid head coach Carlo Ancelotti has confirmed that the La Liga club are in talks with Tottenham over the proposed transfer of Gareth Bale, as reported by BBC Sport.
The Wales international has reportedly informed Tottenham and manager Andre Villas-Boas that he wished to speak with Real, according to Ben Smith of BBC Sport.
Now Ancelotti, who is in Los Angeles with the Real team, "believes" both clubs are in discussions over a multimillion-pound deal for Bale, via BBC.
However, the former Paris Saint-Germain coach insists former Spurs midfielder Luka Modric will not be leaving the Bernabeu as part of the transfer.
"It is not true that Modric is going," said Ancelotti. "He is a very important player for us and he will be here this season."
David Hytner of The Guardian claims that Real Madrid midfielder Alvaro Morata could also act as a makeweight in the deal.