Daniel Levy has held face-to-face negotiations in Florida with Florentino Pérez over Gareth Bale's proposed world record transfer from Tottenham to Real Madrid.

Pérez the Madrid president said at the meeting that his club are prepared to pay €100m (£86m) for the Wales forward which would eclipse the current record – Cristiano Ronaldo's £80m move from Manchester United to Real in 2009. But Levy the Spurs chairman wants £100m.

Levy added that he would be prepared to do business if Pérez included the highly rated young Real striker Alvaro Morata in the deal. But Real do not want to lose a player whom they consider to be a future Spain No9.

The prospect of any makeweight helping to finalise the transfer is complicated and as such unlikely. The challenge in the coming days will be for the two parties to bridge the £14m gap in their respective valuations to facilitate a straight cash deal.

Pérez and Real were in Florida for the club's pre-season friendly against Chelsea while Levy has a property in the US state. Talks will continue but Bale who is desperate to be granted his dream move to the nine-times European champions has been encouraged by Levy's willingness to entertain Pérez.

Bale's focus has been affected by the situation and he has not played for Tottenham since their opening pre-season friendly against Swindon Town on 16 July. He travelled to Hong Kong for the Barclays Asia Trophy at around the time that Real escalated their push to sign him and he did not play in the matches against Sunderland or South China.

He did not travel to France for last Saturday's game against Monaco and he will not feature against Espanyol at White Hart Lane on Saturday. The official reason for his absence is a gluteal muscle injury and subsequently a minor foot problem.

Chris Coleman the Wales manager has called up Bale for next Wednesday's friendly against the Republic of Ireland in Cardiff but his involvement is in considerable doubt.