Mauricio Pochettino has not added a new face to his squad as the White Hart Lane outfit are the only club in England's top four divisions who are yet to make a signing. The Argentine manager remains hopeful his side can sign "a few players" before the deadline day.
Bale has been linked with a move away from the Champions League and the La Liga winners almost every summer since his move to the Spanish capital club from Tottenham in 2013. One club that has been constantly linked with the ex-Premier League star is Manchester United.
The Red Devils manager Jose Mourinho admitted his side would be interested in bringing the Wales international to Old Trafford, and will launch a bid for Bale if he is omitted from the team to face United in the 2017 Uefa Super Cup.
Wright has advised Tottenham chairman Daniel Levy to convince Bale to return to the club he left four years ago, if he is no longer wanted to Real.
"If I'm Daniel Levy, I'm doing every single thing I can to see if I can get him [Bale] back to Spurs," Wright told BBC Radio 5 Live.
"You say it's not going to happen but they've not signed anyone, suppose they just went bang (and went for Bale).
"You can speak to Gareth Bale and say 'you've got three Champions Leagues, what are you going to do at Man United, win another Champions League? Why don't you come here and take us to the next level?'
"You can sell that to Gareth Bale, go back to Spurs in this Spurs team. If Spurs made one signing and it was Gareth Bale, would people still talk about 'Spurs haven't made no signings, ha ha ha'?"
Bale signed a new six-year deal at Real in October 2016 and the new deal will keep him at the club until 2022. The Guardian claims the forward is currently earning around £350,000-a-week ($456,678 per week) in wages.
When asked if Tottenham would pay Bale what he is currently earning at Real, Wright said: "They have to pay for that. They have to find the money to do that. It will take them to the next level. If Tottenham can do that, I believe they can probably convince him [Bale] to come back."