The Midlands side are reportedly set to make a bid for the 20-year-old Spurs wing-back come the opening of the transfer window in January.
Bale has failed to command a regular place in the Spurs side under manager Harry Redknapp and looks destined for a move away from White Hart Lane in a bid to resurrect his career.
The Blues have just been taken over by Hong Kong businessman Carson Yeung who has promised manager Alex McLeish £40million to spend on new players in January in a bid to keep the club in the top-flight.