A world-record deal for Bale was thrashed out late last night and the 24-year-old is expected to be presented to the Madrid fans tomorrow.
Sky Sports reporter Kaveh Solhekol confirmed the long-running saga which has dominated the summer is likely to be over before the transfer window slams shut at 11pm on Monday.
"My understanding is there has been a breakthrough," said Solhekol at White Hart Lane this morning. "Gareth Bale is on the verge of becoming a Real Madrid player for a world-record fee and the deal could go through today.
"I have been told that the deal has been thrashed out at late night meeting last night. There was a breakthrough and a deal was agreed and it is set to be announced either today or tomorrow.
"I've also been told by sources close to Gareth Bale that the deal will go through today, but I have to stress as it stands nothing official has been signed yet."