Catalan daily El Nacional reports that Real Madrid president Florentino Perez wanted Kane to fill Karim Benzema’s shoes.
Benzema left Santiago Bernabeu as a free agent this summer but the Italian tactician vetoed a move for the English striker.
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The 29-year-old England national team captain has since been linked with a move to Bayern Munich.
Tottenham have already rejected two bids from the Germans, including a first bid worth €70 million and an improved offer of €80 million plus add-ons.
Real Madrid have, however, signed Spanish striker Joselu on a season-long loan from Espanyo.