Spanish newspaper Marca claimed that the Wales international had already agreed a deal to sign for Madrid for next season, but the Tottenham manager denied the reports and remained adamant that the player's future would be at White Hart Lane.
"On Gareth, I want to repeat what I was telling you last season and what I was telling you from the beginning of pre-season," he said.
"He's a player that we are willing to continue to have, he's a Tottenham player, he's one of the most fantastic players in the world at the moment and we are counting on him for the future.
"Unfortunately against Sunderland he won't be fit to play, he's recovering from a knock he had in training so we expect him hopefully to have some involvement in the second game."
Bale’s agent had previously hinted at a potential move to the Spanish giants, while Manchester United also enquired about the 24-year-old only to be stunned by Spurs' €82m asking price.
Bale is with the Tottenham squad in Hong Kong for the Asia Cup but will not be involved in their opening match with Sunderland due to injury.