- 5 updates
Real Madrid have completed the transfer of Gareth Bale on a six-year deal, according to Spanish sports newspaper AS.
According to club sources, the Spanish club will pay Tottenham 84 million euros for the Wales international plus an extra seven million euros in add-ons - equivalent to £78m.
The price Madrid will pay for Bale falls short of the £84m they laid out for Cristiano Ronaldo in 2009, although neither Real Madrid nor Tottenham have disclosed the final price.
The Spurs manager Andre Villas-Boas has confirmed that Gareth Bale is close to sealing a world-record move to Real Madrid.
"It could happen very, very soon," he said.
But Villas-Boas has warned that the Welsh star's failure to turn up for training for a second consecutive day "is not the correct behaviour. That is the position they chose to take and it's up to the club to decide if it's a fineable offence."
Gareth Bale has agreed personal terms with Real Madrid ahead of his £86m record-breaking move from Tottenham, according to BBC reports.
It is claimed the Spanish giants are still in discussions over the fee for the 24-year-old forward, with a bid of £86m already submitted to Spurs.
In addition to the world-record offer, which beats the £80m paid by Real Madrid to Manchester United for Cristiano Ronaldo in 2009, the Spanish club have also made an alternative bid of £70m - a one-off bid for the Wales international.
Bale, who joined Tottenham in a £10m deal from Southampton in 2007, was named player of the year by both the Professional Footballers' Association and Football Writers last season after scoring 26 goals for Spurs.
He has been linked with a move to Real all summer, with Spurs manager Andre Villas-Boas saying on Wednesday the transfer "could happen very, very soon".
Jamaican sprint champion Usain Bolt has likened himself to Tottenham's want-away midfielder Gareth Bale, by saying they are both 'speed footballers'.
Bolt said: "If you're a good passer, it's much better. Speed also helps. If you can take [Gareth] Bale for instance, he's pretty good at speed football. So I've seen this and I've said you know what I could be a pretty good footballer.
"I've played football with my friends, I've played enough charity matches in Jamaica and I've done pretty well. So I think personally, there is a possibility I could play so at the end of my track career, I'd like to try and see if it could happen."
Bolt made the comments after meeting Fifa President Sepp Blatter who, knowing the athletics star is a huge football fan, invited him to visit Fifa while he was taking part in the Weltklasse Zürich 2013 athletics meeting.
Andre Villas-Boas is convinced that Tottenham have what it takes to overcome Arsenal on Sunday as he prepares for his first north London derby without Gareth Bale. Spurs will have to do without their talisman on Sunday as he nears a world-record move to Real Madrid.
Tottenham have fared well without Bale so far, winning all four of their opening matches without conceding a goal following a summer spending spree that looks set to break the £100million barrier over the weekend.