However, according to Jonathan Barnett, Bale's agent, there has been no formal offer from Madrid yet.
"Bale has not said no, nor yes," Barnett told Marca TV. "There's no offer from Madrid; they have to talk between themselves and we will see what happens.
"He was at Malaga airport [on Tuesday], he's been in Marbella on holiday. He comes back to Tottenham for pre-season training next week."
Bale scored 21 goals in the Premier League last season.