The 20-year-old is regarded as one of the hottest prospects in the Bundesliga, scoring 12 goals and providing six assists in 27 starts for Leverkusen last season.
His performances had attracted the interest of a host of Premier League clubs, including Chelsea, Arsenal, Manchester City, Manchester United and Liverpool.
However, reports had suggested Spurs were leading the race to acquire his signature. Although now it seems Bailey wants to stay in Germany.
In fact, Leverkusen have allegedly slapped a minimum value of £60million on the talented winger to deter interest.
It seems if Tottenham want to add more pace to their side, they might have to look somewhere else.