Transfer news: £105m for Gareth Bale? 'You're having a laugh' according to Arsene Wenger as speaks on Real Madrid offer for the Tottenham ace

Arsenal boss thinks that such a fee makes a mockery of the Financial Fair Play regulations implemented by Uefa to prevent such deals

Arsenal manager Arsene Wenger has had his say on the Gareth Bale transfer saga labelling the proposed £105m a “joke” and claiming it makes a mockery of the Financial Fair Play regulations brought into effect this year.

Spurs have claimed that they will not be selling Bale this summer, but the longer the ordeal drags on the more likely it seems the Welshman will be heading to Spain in the next month.

Real Madrid look set to test Spurs to the limit as they look certain to break the world-record transfer fee, but with reports claiming that Bale has asked chairman Daniel Levy for a move away, it seems Tottenham may be resigned to losing their star player.

But Wenger feels that surpassing the £100m-mark would go against everything that the new Uefa rulings were brought in to achieve, with club now challenged to balance their books and only spend what they can really afford.

"It makes a joke of it,” exclaimed Wenger. “It's quite amazing that in the year where the Financial Fair Play comes in, the football world has gone completely crazy.

"You wonder what kind of impact and effect it has on the football world. It looks like it has made everybody worse than before."

Wenger is yet to make a significant signing of his own this summer, but the Gunners have seen a £40m plus £1 offer for Luis Suarez firmly rejected – a fee that would have more than doubled the current club record transfer.

Despite the rivalry between Arsenal and Tottenham, Wenger does not want Bale to leave the Premier League, although it would likely give the Frenchman one less thing to worry about in the north London derby.

"It is never good to lose a big player," the Gunners boss added.

"He is a British player and I believe it is important that the Premier League keeps the best players."

Should Bale complete the move, he will become the fifth British player to move to the La Liga giants, with David Beckham and Steve McManaman enduring a successful time with the club while Michael Owen and Jonathan Woodgate had spells to forget during their brief time in Madrid.

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