Gareth Bale's agent Jonathan Barnett says the player's potential move to Spurs is "close but complicated".
Tottenham are reportedly closing in on a loan deal for Bale as well as a permanent deal for his Real Madrid teammate Sergio Reguilon.
"It's close but not done. It's a complicated deal," Barnett told AFP.
Barnett has now spoken to Sky Sports to provide another update on the proposed transfer.
There’s a long way to go on some issues, but without doubt Gareth is closer to leaving Madrid than at any time in last seven years,” he said.
"The deal is complicated, but there’s reason to believe a deal is close and things could move very quickly if discussions continue to go well.”
Earlier this week, Barnett told BBC Sport Wales that Spurs is "where Bale wants to be".
Bale's wages, believed to be around £600,000, remain one hurdle to overcome, though Madrid are reportedly open to paying some of his wages should he leave the club on loan.
Bale is openly seeking a move away from Madrid, with the Wales international relegated to the bench for the majority of Zinedine Zidane's second spell at the Bernabeu.
The four-time Champions League winner moved to the La Liga champions from Spurs in 2013 for a then world-record fee of £85m and has scored 62 goals in 135 appearances for Los Blancos.
Spurs manager Jose Mourinho has refused to speculate on rumours linking the Welshman with a sensational return to the club where he spent six seasons.
Mourinho has spoken of his long-standing admiration for Bale but has refused to add fuel to the rumours linking the 31-year-old with a return to North London.
"Gareth Bale is a Real Madrid player," Mourinho said.
"I don't comment on players from other clubs. I can't comment. That is not my job to have contacts with agents. I don't want to comment on that.
"I don't comment on hypothetical stuff. He's a Real Madrid player. I have to respect that.
"I tried to sign him for Real Madrid which was not possible to do during my time there. But the president followed my instinct and my knowledge and the season I left he brought Gareth to the club.
"There is no secret on [my admiration of the player], I think even Gareth knows that."
Manchester United have also been linked with moves for both Bale and 23-year-old left back Reguilon, who excelled on loan at Sevilla last season.
The Season Ticket is now accepting donations. For the one-off cost of a coffee or pint, you can help us to expand our audience and content offering.