Levy sold Bale to Real Madrid in 2013 for £85m and has dealt with the Spanish giants on numerous occasions.
He is now moving to bring Bale back to north London and a loan move for the Wales forward is on the cards, with the player eager to make the switch.
However, according to Spanish daily Mundo Deportivo, Levy is once again a tough negotiator, despite this time being the buying party, and is fully aware that Real Madrid want Bale off the books.
It is claimed that the talks do not look like being resolved soon, potentially dashing hopes of Bale making a speedy return to Tottenham.
Levy is offering to pick up half of Bale’s pay packet at Real Madrid, something which would still leave Los Blancos picking up a significant portion of the Welshman’s wages.
Real Madrid are reluctant to continue to pay money to a player who is firmly not in Zinedine Zidane’s plans going forward.
Levy is claimed to be using Real Madrid’s desire to offload Bale to his advantage.
And with the transfer window open through until 5th October, the cat and mouse negotiations could yet continue.