The Welshman has been in stunning form this season, bagging 15 goals in 19 league appearances to overtake Gary Lineker as the top British scorer in Spanish football history.
Bale was handed a central role by Rafa Benitez at the beginning of the campaign, but has been forced back to the wings following Zinedine Zidane’s appointment in January.
The ex-Tottenham star was linked with a move back to England last year before deciding to remain at Real, but Benitez’s exit has left his future in the Spanish capital unclear once again.
And Italian media outlet Tuttomercatoweb claims that Bale has now set his sights on a sensational transfer to either Manchester United or Manchester City with Zidane lining up a bid for Chelsea exile Eden Hazard.
The report adds that Real are still keen for the world-record signing to remain at the Bernabeu, with club chiefs putting together a new contract that would tie Bale down until 2021.
But the 26-year-old’s representatives are believed to be working on a deal which would see Bale link up with either Jose Mourinho or Pep Guardiola for the upcoming Premier League campaign.
The Special One is expected to replace Louis van Gaal at Old Trafford once the season ends, with Guardiola’s move to the Etihad already confirmed.
And Bale now looks set to be at the centre of an epic tug-of-war between the two old foes, with Real sure to demand an eye-watering fee if they perform a U-turn and decide to cash in.