The 31-year-old returns to Spurs from Real Madrid seven years after he moved in the opposite direction in a then world-record transfer.
The Welsh international is said to be nearing a move to Spurs, who he left for Real Madrid in a then world-record £80m deal.
Gareth Bale has been angered by Florentino Perez's decision to pull the plug on his proposed move to Chinese Side Jinagsu Suning.