Real Madrid president Floretino Perez has reportedly placed a £45m limit on the club's pursuit of Tottenham Hotspur's Gareth Bale.
The Spanish side have been linked with a summer move for the Welshman for the majority of the season, with reports varying as to the amount the nine-time European champions would be willing to offer Spurs.
However, according to The Mirror, Perez has set a maximum bid of £45m, with the offer of a player also on the table.
Los Blancos are prepared to place striker Gonzalo Higuain or winger Angel di Maria into any potential deal, with the report claiming that Spurs have slapped a £100m price tag on Bale in an attempt to stave off potential suitors.
Bale has scored 18 goals in the Premier League this season and is the club's top scorer.
