The La Liga giants have already had a bid worth £85m rejected by Spurs, who have been reluctant to let the talented Welshman leave.
And it's thought the north London outfit is close to replacing Bale with Roma's Erik Lamela and Brazil star Willian.
Boss Andre Villas-Boas is hoping to sign at least two more players to strengthen his forward line, which could see the club's spending jump past £100m mark.
Reports indicate Lamela's agent, Pablo Sebbag, and Roma sporting director, Walter Sabatini, are in London to discuss the player's move with Tottenham technical director Franco Baldini.
Spurs have also gazumped Premier League rivals Liverpool, by bidding £30m for talented Brazilian Willian.
Other reports have also linked Madrid's wanataway player Fabio Coentrao with the deal, suggesting the he could be part of a package worth around £100m.
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