Real Madrid are reportedly ready to admit defeat in their attempt to sign Tottenham Hotspur star Gareth Bale.

The Spanish giants are shelving their offer for the Welshman for 12 months after Spurs chairman Daniel Levy insisted that all bids will be rejected, according to The Mirror.

Bale is due back at the North London club for pre-season training next week, and is allegedly keen to sign a new contract at White Hart Lane.

Real have publicly pursued the midfielder since April, hoping to lure him with the promise of Champions League football.

However, Bale is believed to be happy to remain at Spurs for at least another season.