Bale will be returning on loan to the club he left seven years ago and football.london understands that Spurs will be paying what will amount to roughly 40 per cent of his wages with Real Madrid covering the rest.
Tottenham have long looked to bring the 31-year-old Welshman in many a transfer window, but financially the deal was never viable until this year, with Bale’s relationship with Zinedine Zidane and the fans broken beyond repair.
Bale’s Madrid team-mate, 23-year-old Reguilon, who once called the Wales international his idol, will make the switch with him to north London.
The Spain international has plenty of admirers within Spurs, including Mourinho, and although the club had not prioritised signing a new left-back during this window they asked to be kept abreast of Reguilon’s situation.
When it became clear that he would be available for less than £28million, Spurs made their move. Such was their desire to bring him to Tottenham that they, uncharacteristically, agreed to Madrid’s stipulation that a buy-back clause be inserted.
That clause would see Spurs make a profit of 50 per cent on the original deal should Real return for him at a later date and the player of course decide to move back to the Spanish capital. There are also reports of a second clause which states Real will have first option to match any accepted bid by another club.
For Spurs chairman Daniel Levy to accept such demands shows just how much of an immediate impact Tottenham and Mourinho believe Reguilon can make on this Tottenham side.
Both Bale and Reguilon have completed the bulk of their medicals in Spain and undertaken an MRI each before they tie up the double deal with Spurs.
For Mourinho it will further overhaul his team with two star starters who will bring very different qualities to the north London side.
Mauricio Pochettino called for a ‘painful rebuild’ at Tottenham long ago and it has finally come in the past 14 months with a string of long-serving players moving on and 11 new signings coming through the door.
Spurs will look to bring in two more in a target man and a centre-back in the weeks ahead to complete a window that had already seen Pierre-Emile Hojbjerg, Joe Hart and Matt Doherty arrive through the doors at Hotspur Way.
This week’s two newest arrivals will naturally force Mourinho to alter his formation on the pitch.
The Portuguese has favoured a fluid back four since arriving at Tottenham, with Serge Aurier and now Doherty playing as an advanced right-back, practically a wing-back role. That is possible because on the other side Ben Davies can comfortably step inside to create a back three in possession.
However, Reguilon is a very different left-back, far more dynamic and forward thinking, more in the vein of Doherty than Davies.
Playing both flying full-backs would require Mourinho to either switch to a back three and play them as wing-backs or utilise a holding midfielder who can step back to create a back three when required, as Eric Dier used to do under Pochettino to unleash Kyle Walker and Danny Rose down the flanks.
Further up the pitch Bale would likely take up a spot on the right wing, able to cut in to shoot with that devastating left foot as he has done countless times for Spurs and Real over the past decade.
Lucas Moura, who is one of Tottenham’s hardest workers but has struggled with his end product, would be the player most likely to see his game time cut, with a front three of Son Heung-min, Harry Kane and Bale a mouthwatering one to unleash on the Premier League.
Mourinho will also have to decide whether to pursue with his desire to return Tottenham to the pressing team they were in their prime under Pochettino or whether to make it more selective.
Asking the 31-year-old Bale, with his history of calf and ankle problems, to relentlessly press opponents might not be the wisest choice.
He could perhaps move Bale into more of a floating number 10 role behind Kane, competing with Dele Alli for a spot.
Alli’s future has been the subject of speculation but football.london understands that Spurs are not expecting him to leave in this window and that he is part of Mourinho’s plans.
The Tottenham head coach could bring the 24-year-old into a deeper attacking role in midfield, a position he was used in by Pochettino alongside Dier in the early months after his arrival from MK Dons.
One thing the arrival of Bale and Reguilon will do is shake up Mourinho’s team.
Even the Portuguese, with his CV packed with success, has struggled to shake many of the bad habits out of the Tottenham players and it has been a slow processing in blowing out the stale air in the squad that haunted Pochettino’s final months.
With this stunning double swoop and further arrivals in this window, Mourinho’s claim when he first joined Spurs that they would challenge those at the top of the Premier League table in his first full season suddenly does not seem so fanciful.