The Tottenham star has been linked with the Spanish giants throughout the summer, and the latest news concerns what could be plans for the unveiling of Bale at the Bernabeu.
But who else is making the transfer news on Saturday? Read on to find out more.
The Wales international appears to be on the verge of completing his world-record move from Tottenham to the La Liga giants, and it looks as though the Spanish club are preparing for his arrival.
However, the Spurs boss believes the departure of Bale, 24, represents an opportunity for his squad players to make an impact on the first team.
Whenever a team is missing an important player it is a chance for other players to step up their game.
In the end, there will always be an opportunity for other people to shine. Other players are taking on that responsibility. A player like Andros is an example but others can follow in the same footsteps.
Manchester United manager David Moyes is set to make himself an unpopular figure at Everton after urging the Goodison Park club to allow Leighton Baines and Marouane Fellaini to move to Old Trafford, reports Ian Ladyman of the Daily Mail.
Moyes, who spent 11 years with the Merseysiders before replacing Sir Alex Ferguson this summer, has already seen a £28 million bid for the pair dismissed out of hand by Everton. Still, he claims he would have let both players move on if he was still manager at Goodison, reports Ladyman.
As a comparison to the situation, the Mail article highlights Moyes' view of Manchester City's late bid to sign Joleon Lescott in 2009 when the Scot was Everton manager.
Arsenal manager Arsene Wenger has hinted that summer target Luis Suarez still holds the key to his summer spending plans even if the Uruguay striker does not come to the Emirates Stadium, reports John Cross of the Daily Mirror.
Like the chain involved in buying a house, there is a domino effect in football with clubs only willing to sell if a replacement can be found.
The Gunners are hoping to add Real Madrid striker Karim Benzema to their ranks before the transfer window closes on Sept. 2, says Cross, but Wenger admits the Bernabeu club will want a replacement before they do business.
That's part of the fact you need three agreements for anybody. It's true that it is sometimes connected with other clubs. But we have to accept that.
We have our targets, we will try to achieve that and I am confident we will get there. We will not go into the new season with only the number of players we have.
Cross claims Liverpool forward Suarez is a target for Real, but Arsenal could turn to Diego Costa if they miss out on Benzema despite the striker recently signing a new deal with Atletico Madrid.
Tottenham have opened talks with Steaua Bucharest for the £7.5 million signing of defender Vlad Chiriches, reports Sami Mokbel of the Daily Mail.
The Romania international, 23, is the latest name for Villas-Boas as he continues to spend this summer on the back of Real Madrid's move for Bale.
Meanwhile, Tottenham believe Chelsea gazumped their move for Willian because Jose Mourinho feared the White Hart Lane club were becoming title contenders with their summer spending spree, report Darren Lewis and Neil McLeman of the Daily Mirror.
The Blues are expected to sign the Anzhi Makhachkala and Brazil winger for £30 million after the player had a medical with Tottenham.
The Brazilian has become a fan favourite at Anfield, and his blossoming form at No. 10 could offset a frustrating summer transfer window for the Reds boss, says Maddock.
Borussia Dortmund striker Robert Lewandowski has rejected the advances of Mourinho, Sir Alex Ferguson and Real Madrid over the last 12 months, reports Antony Kastrinakis of The Sun (subscription required).