Bale is desperate to leave Real Madrid, and the emotional pull of a return to N17 has proved too much to ignore.
Here's the latest on Tottenham's pursuit of Bale...
Is the deal close?
Yes, very. Gareth Bale is in London to put the finishing touches on a season-long loan move, including final medical checks.
Bale's agent Jonathan Barnett has told Standard Sport that an agreement between both clubs and player was "very close but not there yet" as of Thursday morning.
Though Bale's return to N17 was instigated and driven by Levy, Mourinho has given the move his blessing and has already spoken to the former world's most expensive player.
Reguilon is expected to join in a double Madrid swoop with Madrid agreeing to sell the left-back for £25m, though the Spanish giants will be able to buy the player back for around £10m more over the next two years.
How much will Bale cost?
Bale is reportedly Madrid's highest earner on around £600,000 a week. That figure has been questioned by the Spanish media, with another figure of closer to £450,000 mentioned.
In any case, it is understood Spurs will pay under £15m all in to have Bale for a year, including all wages and fees for the duration.
That is helped in large by Madrid accepting to pay the majority of Bale's wages, so keen they are to get part of his salary off their books.
Barnett told the Telegraph: "[Levy] has stuck his neck out. He's done bloody well. You have got to give him credit and admire his guts. He has put his money where his mouth is."
Who else was interested?
Manchester United were very interested in both. Reguilon was reportedly keen on a move to Old Trafford but the club refused to agree to the buy-back clause.
Madrid will also be able to match any bid for Reguilon which Spurs accept.
Bale has long been a target for United, and was again this window, though the summer-long saga for Jadon Sancho's future remains their priority.
When can Bale play?
Bale will likely need to get back up to speed regarding his fitness. Sky Sports reported that it could be a month before the winger is back to full fitness despite playing 135 minutes for Wales earlier in September.
What shirt number will Bale wear?
When Bale left Spurs in 2013, he had been through three squad numbers in north London.
The Welshman started with the No.16 in 2007/08 before taking the No.3 shirt until the end of the 2011/12 season, and finally wore the No.11 jersey in his final year at White Hart Lane before joining Real Madrid in summer 2013.
Bale has kept hold of the No.11 shirt at the Bernabeu ever since, which makes sense in commercial terms: both his Twitter and Instagram handles are '@GarethBale11', and he has trademarked his 'Eleven of Hearts' goal celebration.
Bale could in theory take back the No.3 jersey - which was recently taken off of Danny Rose - or the No.16 he originally wore for Spurs, while the vacant No.9 shirt would suggest a more out-and-out forward role.
But given the value of the No.11 jersey to Bale's branding, it wouldn't be a surprise to see the current occupant at Spurs, Erik Lamela, shifted to another option to make way for the new arrival.