Bale returned to Spurs after seven years on a loan deal last season after falling out of favour under former Madrid boss, Zinedine Zidane. He had an impressive stint in north London, scoring 11 Premier League goals despite making just 10 starts under Jose Mourinho.
Barnett told Standard Sport that Bale will not be returning to north London, with one year left on his Los Blancos contract. "As I have said from the beginning, there is no option," said the football agent. "Gareth has no agreements whatsoever. He is under contract to Real."
Carlo Ancelotti returned to Madrid after leaving Everton, and the Italian has claimed that he "has a lot of love" for the 31-year-old. "I have a lot of love still for Gareth, Isco, Marcelo… they will have motivation to show they can still play for Real Madrid," Ancelotti said after his announcement.
"Gareth has not played much in the Premier League, but he scored lots of goals, was very effective in recent games when he had chance to play. He is coming back, I know him very well, he will be motivated to play better and have a great season, no doubt."
Earlier this month, Bale admitted he will be happy to discuss his Real Madrid future with new boss Ancelotti after Euro 2020. “I know Carlo Ancelotti, he’s a great manager. I get on with him really well,” he explained to Sky Sports. "He’s returned to Real Madrid and he’s a great manager, a great guy. Obviously I spoke to him when we played Everton at the start of the season. We hugged and had a little chat so it was nice.
“We had some great times in the past, but I’m still in the same boat. I haven’t spoken to anybody, I’m not thinking about my future. I’m really just concentrated on now, I’m not thinking about the future at all. I imagine I’ll have a conversation with him at some point and I’ll go from there when that happens."
With Bale's Wales now knocked out of the European Championship, all focus will turn towards his future as he returns to Spain to link up with Madrid ahead of the 2021-22 season.