Sports daily Marca, which is well known for its close allegiance to Real, claimed on Tuesday a six-year contract has been prepared for English football's double player of the year.
The report also suggested Bale will be paid 10m Euros (£8.6m) a season and has already told Spurs he wants to leave.
But speaking at a press conference in Hong Kong, where Spurs are preparing for the Asia Trophy, Andre Villas-Boas repeated the stance on Bale he has taken since before the end of last season.
The Spurs manager said: "On Gareth, I want to repeat what I was telling you last season and what I was telling you from the beginning of (pre-season) so I cannot extend myself.
"He is a player that we are willing to continue to have, he's a Tottenham player, he's one of the most fantastic players in the world at the moment and we are counting on him for the future."
Bale has given no public indication this summer that he wants to leave White Hart Lane and, speaking two weeks ago following a pre-season friendly, the Welshman spoke of his desire to push Tottenham towards Champions League qualification.
"I think everyone at the club wants us to finish in the top four, the club wants to be in the top four, and we need to go one better this season and finish in the top four," he said.
Bale won both the Player of the Year and Young Player of the Year following a superb last season.
"The season he had last year was a big part of our achievements, and he knows we'll be looking to do the same this season," he told Sky Sports News.
"I know Gareth's happy, he's come back in good spirits and I'm hoping he's going to have a good season again."
King also believes the 24-year-old will take the speculation over his future in his stride.
"I think you get used to it as a player," he added. "The kind of player he's grown to be, it's something that you have to deal with.
"He's a good lad, he's got a good head on his shoulders and he knows the main thing for him is just to concentrate on his football and the rest will take care of itself."