Real Madrid have agreed to pay £105million in a part-exchange deal for Gareth Bale, the Mirror reports.

The Spanish giants were claiming on Thursday night that a staggering, world-record accord had been sealed with Spurs chairman Daniel Levy.

Tottenham insist there is still work to be done though, with the clubs as yet unable to agree on which Real players will travel in the opposite direction.

Levy wants any cash offer to exceed the world record £80m paid by Manchester United to Real for Cristiano Ronaldo four years ago, before a player is included.

Real have withdrawn left-back Fabio Coentrao – one of the players they are offering – from their friendly with LA Galaxy claiming “muscle issues”.

But they have dismissed an attempt by Tottenham to take Spain Under-21 striker Alvaro Morata.

Spurs boss Andre Villas-Boas is a big fan of the 20-year-old, who was the tournament's leading scorer two months ago as Spain lifted the European Under-21 title.