Tottenham Hotspur will sell Gareth Bale if Real Madrid offer a world-record transfer fee for the winger, in excess of the ￡80m they paid for Cristiano Ronaldo in 2009.

According to reports from British media, key to the deal would be the Spanish club breaking their own transfer record in cash, not with players added on to make up the value.

Tottenham arrived back in London in the early hours of Monday morning from their final pre-season matches in Hong Kong. Bale did not play in either of the club's matches in the Asia Trophy because of a muscle problem.

The PFA Player of the Year, who scored 21 goals in the Premier League last season, wants his future resolved this week as he and his advisers are aware of Madrid's determination to secure him before Carlo Ancelotti's first campaign in charge.

Spurs have become renowned for their stubborn approach to the market in recent years as the likes of Michael Carrick, Dimitar Berbatov and Luka Modric have pressed for moves, but David Pleat, who had previously worked under Levy as Tottenham's director of football, believes the club will have to consider a world-record fee.

"I don't think there's panic at the club," Pleat said. "The press were talking ￡50 million, ￡60 million this summer. This could rise to something crazy like ￡100 million, which would blow any club out of the water. Even Tottenham, who have resisted strongly, may have to look at it. Manchester United couldn't resist it for Ronaldo."