Real Madrid have made two different bids for Gareth Bale

According to BBC Sport, Real Madrid have made two very different offers in hopes of signing Gareth Bale. The hope, obviously, is that one of the deals will please Tottenham Hotspur management (read: Daniel Levy) and that Madrid and Florentino Perez will finally have their man.

The first offer is believed to be a €100 million (£86 million) fee spread out over three or four years. This sum would break Cristiano Ronaldo's transfer fee record. This deal might net Spurs more money in the long run (something about the time-value of money), plus having the transfer fee record for Bale is kind of a pride thing at this point. However, not having more money all at once isn't going to help offset the costs of all the spending Spurs did this summer.

The other offer is rumored to be for £70 million paid all at once, right now. This second deal could also include the exchange of a player, though the BBC is less solid on that aspect of the deal. All the money right now is appealing and if the player being exchanged is either Fabio Coentrao or Alvaro Morata then more's the better. However, this means that we don't get the huge cash injection we had hoped for and instead probably don't even break even this offseason.

The problem with the latter offer is that there's no guarantee, at least in this report, that Spurs would get another player as a makeweight. If the offer is just a £70 million lump-sum payment right now, with nothing else, I can't see how Spurs can accept that. In all honesty, I don't see Spurs accepting either of these. I think Levy and Co. are going to want the £86 million, either in payments or in lump-sum, and a player. I don't have any insight into the negotiations or anything, but that seems like a thing Levy would ask for, doesn't it?

If I were in charge I'd take my £70 million now and then one of Coentrao or Morata. Which of those players you prefer probably depends on your thoughts on Danny Rose. I'm not totally sold on him, so I'd like Coentrao. However, I certainly wouldn't begrudge anyone that would prefer Morata. So, what offer would you accept?