Real Madrid president Florentino Perez thinks €100m (£85million) is too much for Tottenham star Gareth Bale.
Real have been chasing Bale all summer with Spurs reluctant to sell him for anything less than a world record fee of £85million.
Bale is thought to be keen on moving to the Spanish capital, but Tottenham are adamant last season's double player of the year will only leave on their terms.
Perez has admitted talks are thought to be ongoing between both clubs as Real look to thrash out a deal to try and secure the Welshman's signature, but he questioned the fee Tottenham are reported to be demanding for the 24-year-old.
"We are talking with a lot of people and we will see what comes of our negotiations, I am talking about that player (Bale) and others," Perez is quoted as saying to ESPN.
"I do not want to talk about players out of respect to the player himself (Bale), the club and the chairman (Daniel Levy) who is a friend of mine and with whom I struck up a good friendship last summer because of the transfer of Luka Modric.
"If we're not talking about names, we're not talking about money either, but 100 million (euros) seems a lot to me," he said with a smile. "But I am not talking seriously because there is no need and, as I said, out of respect for the club."
Perez also reiterated his belief that he expects Cristiano Ronaldo will stay and finish his career at Real.
Ronaldo played down talk that he had agreed a new deal at the Bernabeu earlier this week and Perez confirmed that there was still a way to go before a contract extension was resolved, but remains confident the Portuguese superstar will remain in the Spanish capital.
Asked if Ronaldo was very close to signing a new deal, Perez added: "No. We are all convinced he will finish his sporting career at Real Madrid.
"I think by the end of summer we will try to resolve this matter."