, Harry Redknapp's offer of Hossam Ghaly, Gilberto and Adel Taarabt as part of a player-plus-cash deal does not interest Gareth Southgate, and aside from offering more money, Bale is the only bargaining tool remaining.
Redknapp is understood to want to better the options he has on the left wing, and 24-year-old Downing has been identified as the man for the job. But having just signed a five-year deal it is unlikely that Southgate will let his captain go without a fight.
If Redknapp fails to sign Downing it is widely believed he will turn his attentions to Liverpool's Ryan Babel.
Both names join a long list of players being linked with a move to White Hart Lane next month.
The club are rumoured to want Robbie Keane back in their ranks. Keane has flattered to deceive since his big-money move to Liverpool and was left on the bench for the 2-2 draw against Hull on Saturday.
Spurs could make a £5 million offer plus Aaron Lennon and Jamie O'Hara to bring their former captain back to north London.
Aside from Keane, Spurs are also rumoured to be interested in Bordeaux striker Fernando Cavenaghi, while the club have been keeping tabs on Matthew Upson and Robert Green at London rivals West Ham.