Tottenham Hotspur have reportedly insisted that the club's new partnership with Real Madrid does not include an agreement that will see the Spanish champions have first refusal on Spurs players.
The partnership arose following Luka Modric's move from White Hart Lane to the Bernabeu.
Speculation has since arisen that such an agreement could see players such as Gareth Bale also make the switch to La Liga.
However, ESPN quote a source as saying: "Speculation, that's all it is. All the talk about Bale and Real is speculation. Spurs' partnership with Real Madrid does not cover this sort of thing."
Bale, 23, signed a new four-year contract with Tottenham in June.
