Bale’s future at the Bernabeu has been called into question in recent years, with injuries limiting the Wales international’s contributions for Zinedine Zidane‘s side.
The 28-year-old has made just six starts across all competitions so far this season, and Los Blancos are understood to deem him dispensable once the summer transfer window opens.
Spanish media outlet Diario Gol reports that the two parties have now agreed to terms over his exit, alerting long-time admirers Manchester United.
United have been repeatedly linked with Bale in recent transfer windows and could launch a big-money bid for the winger next summer in an attempt to close the gap on Manchester City.
United have also been credited with an interest in Sergej Milinkovic-Savic, although it is understood that Bale remains Mourinho’s number one transfer target.