Gareth Bale's agent would be "honoured" to speak to Real Madrid over a potential move for his client to the Bernabeu.
Jonathan Barnett, who represents the Wales star, expects Tottenham to demand a fee well in excess of £50million if they decide to let the 23-year-old leave, however.
Barnett did little to play down the idea that Bale would be interested in a move to the nine-time European champions, telling Spanish newspaper Marca: "If (Real Madrid president) Florentino (Perez) is interested in Gareth Bale it would be an honour and we would listen, but Gareth's contract is with Tottenham. We aren't free to speak to anyone."
He added: "I do not know if there has already been an offer. What I know is that the player has three years left on his contract. "
Bale has just come through his most successful season, scooping several coveted awards after scoring 31 goals for club and country. Real Madrid have, as a result, taken a keen interest in the forward, with Zinedine Zidane - an advisor to Perez - recently lavishing praise on the former Southampton player.
Spurs forged a club partnership with Real last summer as part of the sale of Luka Modric to the Spanish giants.
Tottenham chairman Daniel Levy is renowned for being a tough negotiator - he blocked a £40million bid from Chelsea for Modric the previous year - and he recently vowed to hold on to Bale and Tottenham's other stars this summer.
Bale is widely regarded as one of the best players in the world and given that the price Barcelona paid for Brazil star Neymar is reported to be around £50million, Barnett thinks Tottenham will demand a huge fee.
When asked whether Bale would cost more than Neymar, Barnett replied: "Much more. He is a better player than Neymar and he has shown that in one of the best leagues in the world - the Premier League."
Bale has three more years left on his contract, but reports had suggested that Tottenham had opened talks with the Welshman over a new improved deal in order to keep him at White Hart Lane despite the club's failure to qualify for the Champions League. Barnett dismissed that suggestion, saying: "We haven't talked with anyone."