Bale impressed in the Premier League for Spurs last season.
Toshack said: “It was a big-money bid – it’s big money to me anyway. You’ll have to ask Tottenham, they know about it.
“Gareth is aware people are looking at him and people are interested.”
Toshack refused to comment when asked about the identity of the club.
He said: “I wouldn’t do that out of confidence for the people who have informed me.”
He added on Bale: “He’s still a young lad and there’s things he has to learn but there are a lot of people looking at him and taking an interest in him.
“I just hope he can take his club performances into our games at international level.
“He’s in Champions League football now which is another platform for him to show what he can do and if he steers clear of the injury problems he has had he’s got everything going for him to be a big, big player.”
