Gareth Bale is beginning to realise the price of signing a long-term contract at Tottenham Hotspur now Daniel Levy has rejected a reported £86.3 million offer from Real Madrid for the Welshman.

Madrid have overvalued Bale - who has had one great season - by about £30m, but players leave White Hart Lane at a Levy price, and while it is extraordinary Tottenham have rejected such an inflated fee it is not exactly a surprise.

To illustrate how maddening it can be to negotiate with Levy, Manchester United were put off signing Luka Modrić after they overspent bringing in Michael Carrick and Dimitar Berbatov from north London. Sir Alex Ferguson will rightly argue both players have contributed to a highly successful period in United's history, but the stress was nae worth it anymore.

Levy is the kind of man who can sign Steven Pienaar for £3m and somehow sell him for a profit.

Bale should have known the dangers when he signed his annual contract/stay of execution last year. Modrić inked a new deal for six years in 2010 but was agitating for a move to Chelsea the following year. It didn't materialise and Spurs happily sold him to Madrid in 2012.

gareth bale

Bale is "distraught" Spurs rejected Madrid's offer for him


This morning, the Mirror say Levy is giving Bale the "silent treatment". This comes from the same writer who described Marca's cheerleading pieces last week as "dirty tricks". He is also a Spurs fan, which is convenient.

The Mail state Levy has cut short his holiday to hold talks with a "distraught" Bale, a la Cousin Avi. He's comin' ta London, Gareth.

Player-plus-cash deals are rarer than a Spurs top four finish, but that hasn't stopped the Sun nominating a couple of Madrid players who could be turning out for the Lilywhites next season.

They say Real will offer £51m plus Argentina winger Angel di María and Portugal left-back Fabio Coentrão, which is one way of nursing Spurs' vacancy on the left wing, even if Bale was given a free role in the latter half of last season.

And Javier Pastore, marginalised at Paris Saint-Germain before Edinson Cavani arrived, is nominated by the Star as a potential replacement for Bale.

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    READING, ENGLAND - SEPTEMBER 16: Gareth Bale of Tottenham Hotspur celebrates his goal during the Barclays Premier League match between Reading and Tottenham Hotspur at Madejski Stadium on September 16, 2012 in Reading, England. (Photo by Mike Hewitt/Getty Images)

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    READING, ENGLAND - SEPTEMBER 16: Gareth Bale of Tottenham Hotspur celebrates his goal during the Barclays Premier League match between Reading and Tottenham Hotspur at Madejski Stadium on September 16, 2012 in Reading, England. (Photo by Mike Hewitt/Getty Images)

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    MANCHESTER, ENGLAND - SEPTEMBER 29: Gareth Bale of Tottenham Hotspur celebrates victory in the Barclays Premier League match between Manchester United and Tottenham Hotspur at Old Trafford on September 29, 2012 in Manchester, England. (Photo by Shaun Botterill/Getty Images)

  • FBL-ENG-PR-TOTTENHAM-WEST HAM

    Tottenham Hotspur's Gareth Bale (R) celebrates scoring with Jermaine Defoe against West Ham during their English Premier League football match at White Hart Lane in North London, England, on 25 November, 2012. AFP PHOTO/OLLY GREENWOOD RESTRICTED TO EDITORIAL USE. No use with unauthorized audio, video, data, fixture lists, club/league logos or “live” services. Online in-match use limited to 45 images, no video emulation. No use in betting, games or single club/league/player publications. (Photo credit should read OLLY GREENWOOD/AFP/Getty Images)

  • Soccer - Barclays Premier League - Tottenham Hotspur v West Ham United - White Hart Lane

    Tottenham Hotspur's Gareth Bale celebrates scoring his side's second goal of the game

  • FBL-ENG-PR-TOTTENHAM-LIVERPOOL

    Tottenham Hotspur's Welsh midfielder Gareth Bale (L) celebrates scoring their second goal during the English Premier League football match between Tottenham Hotspur and Liverpool at White Hart Lane in north London, England on November 28, 2012. AFP PHOTO/OLLY GREENWOOD RESTRICTED TO EDITORIAL USE. No use with unauthorized audio, video, data, fixture lists, club/league logos or “live” services. Online in-match use limited to 45 images, no video emulation. No use in betting, games or single club/league/player publications (Photo credit should read OLLY GREENWOOD/AFP/Getty Images)

  • Tottenham Hotspur v Liverpool - Premier League

    LONDON, ENGLAND - NOVEMBER 28: Gareth Bale of Tottenham Hotspur celebrates scoring their second goal from a free kick during the Barclays Premier League match between Tottenham Hotspur and Liverpool at White Hart Lane on November 28, 2012 in London, England. (Photo by Julian Finney/Getty Images)

  • Tottenham Hotspur v Liverpool - Premier League

    LONDON, ENGLAND - NOVEMBER 28: Aaron Lennon of Tottenham Hotspur celebrates scoring the opening goal with Gareth Bale of Tottenham Hotspur during the Barclays Premier League match between Tottenham Hotspur and Liverpool at White Hart Lane on November 28, 2012 in London, England. (Photo by Julian Finney/Getty Images)

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    BIRMINGHAM, ENGLAND - DECEMBER 26: Gareth Bale of Tottenham Hotspur celebrates his hat-trick goal during the Barclays Premier League match between Aston Villa and Tottenham Hotspur at Villa Park on December 26, 2012 in Birmingham, England. (Photo by Michael Regan/Getty Images)

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    BIRMINGHAM, ENGLAND - DECEMBER 26: Gareth Bale of Tottenham Hotspur celebrates his goal during the Barclays Premier League match between Aston Villa and Tottenham Hotspur at Villa Park on December 26, 2012 in Birmingham, England. (Photo by Michael Regan/Getty Images)

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    BIRMINGHAM, ENGLAND - DECEMBER 26: Gareth Bale of Tottenham Hotspur celebrates his goal during the Barclays Premier League match between Aston Villa and Tottenham Hotspur at Villa Park on December 26, 2012 in Birmingham, England. (Photo by Michael Regan/Getty Images)

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    BIRMINGHAM, ENGLAND - DECEMBER 26: Gareth Bale of Tottenham Hotspur celebrates his hat-trick goal during the Barclays Premier League match between Aston Villa and Tottenham Hotspur at Villa Park on December 26, 2012 in Birmingham, England. (Photo by Michael Regan/Getty Images)

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    BIRMINGHAM, ENGLAND - DECEMBER 26: Gareth Bale of Tottenham Hotspur celebrates his goal during the Barclays Premier League match between Aston Villa and Tottenham Hotspur at Villa Park on December 26, 2012 in Birmingham, England. (Photo by Michael Regan/Getty Images)

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    BIRMINGHAM, ENGLAND - DECEMBER 26: Gareth Bale of Tottenham Hotspur celebrates his second goal during the Barclays Premier League match between Aston Villa and Tottenham Hotspur at Villa Park on December 26, 2012 in Birmingham, England. (Photo by Michael Regan/Getty Images)

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    Tottenham Hotspur's Welsh midfielder Gareth Bale (L) celebrates scoring during the English Premier League football match between Norwich City and Tottenham Hotspur at Carrow Road in Norwich, in Norfolk, eastern England, on January 30, 2013. AFP PHOTO / OLLY GREENWOOD RESTRICTED TO EDITORIAL USE. No use with unauthorized audio, video, data, fixture lists, club/league logos or “live” services. Online in-match use limited to 45 images, no video emulation. No use in betting, games or single club/league/player publications (Photo credit should read OLLY GREENWOOD/AFP/Getty Images)

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    Tottenham Hotspur's Welsh midfielder Gareth Bale celebrates scoring during the English Premier League football match between Norwich City and Tottenham Hotspur at Carrow Road in Norwich, in Norfolk, eastern England, on January 30, 2013. AFP PHOTO / OLLY GREENWOOD RESTRICTED TO EDITORIAL USE. No use with unauthorized audio, video, data, fixture lists, club/league logos or “live” services. Online in-match use limited to 45 images, no video emulation. No use in betting, games or single club/league/player publications (Photo credit should read OLLY GREENWOOD/AFP/Getty Images)

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    NORWICH, ENGLAND - JANUARY 30: Gareth Bale of Spurs celebrates his goal during the Barclays Premier League match between Norwich City and Tottenham Hotspur at Carrow Road on January 30, 2013 in Norwich, England. (Photo by Jamie McDonald/Getty Images)

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    NORWICH, ENGLAND - JANUARY 30: Gareth Bale of Spurs celebrates his goal during the Barclays Premier League match between Norwich City and Tottenham Hotspur at Carrow Road on January 30, 2013 in Norwich, England. (Photo by Jamie McDonald/Getty Images)

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    NORWICH, ENGLAND - JANUARY 30: Gareth Bale of Spurs celebrates his goal during the Barclays Premier League match between Norwich City and Tottenham Hotspur at Carrow Road on January 30, 2013 in Norwich, England. (Photo by Jamie McDonald/Getty Images)

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    Tottenham Hotspur's Gareth Bale celebrates after scoring his team's opening goal

  • Soccer - Barclays Premier League - West Bromwich Albion v Tottenham Hotspur - The Hawthorns

    Tottenham Hotspur's Gareth Bale celebrates after scoring his team's opening goal

  • Soccer - Barclays Premier League - West Bromwich Albion v Tottenham Hotspur - The Hawthorns

    Tottenham Hotspur's Gareth Bale celebrates

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    Tottenham Hotspur's Welsh midfielder Gareth Bale celebrates scoring his second goal during the English Premier League football match between Tottenham Hotspur and Newcastle United at White Hart Lane in London on February 9, 2013. AFP PHOTO / IAN KINGTON RESTRICTED TO EDITORIAL USE. No use with unauthorised audio, video, data, fixture lists, club/league logos or 'live' services. Online in-match use limited to 45 images, no video emulation. No use in betting, games or single club/league/player publications. (Photo credit should read IAN KINGTON/AFP/Getty Images)

  • FBL-ENG-PR-WEST HAM-TOTTENHAM

    Tottenham Hotspurs' Welsh defender Gareth Bale celebrates scoring his team's third goal against West Ham in an English Premier League football match at the Boleyn Ground, Upton Park, in east London, on February 25, 2013. AFP PHOTO/GLYN KIRK RESTRICTED TO EDITORIAL USE. No use with unauthorized audio, video, data, fixture lists, club/league logos or “live” services. Online in-match use limited to 45 images, no video emulation. No use in betting, games or single club/league/player publications. (Photo credit should read GLYN KIRK/AFP/Getty Images)

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  • Soccer - Barclays Premier League - Tottenham Hotspur v Manchester City - White Hart Lane

    Tottenham Hotspur's Jermain Defoe (centre) celebrates scoring his teams second goal of the game with teammate Clint Dempsey (left) as teammate Gareth Bale (right) looks on

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  • Soccer - PFA Player of the Year Awards 2013 - Grosvenor House Hotel

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  • Soccer - PFA Player of the Year Awards 2013 - Grosvenor House Hotel

    File photo dated 28/04/2013 of Gareth Bale with his PFA Player of the Year and Young Player of the Year.