The Welshman has enjoyed a fine campaign at the Bernabeu, scoring 15 goals in 19 La Liga outings this season and playing a vital role alongside Karim Benzema and Cristiano Ronaldo.
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However, regardless of Bale's reported desire to play in the Premier League, the issue remains it would take an audacious - and possibly world record - offer from United or City to convince Real to part ways.
Despite an injury-plagued start to life in the Spanish capital, Bale was instrumental in the club's Copa del Rey and Champions League success in his debut season.
And his influence has only increased since signing in 2013, with Zinedine Zidane's side in the semi-finals of the Champions League and only four points behind Barcelona in the La Liga title race.
Club president Florentino Perez wants to extend Bale's stay by two more years yet the former Tottenham Hotspur midfielder could opt to seek pastures new.
The Wales international became Britain's record goalscorer in La Liga against Sevilla in late March, scoring his 43rd goal to surpass Gary Lineker's 27-year-old record in just 77 league appearances.
What could play a pivotal role in Bale's future is speculation surrounding Chelsea's Eden Hazard, who has long been rumoured with a move to Madrid.
The Belgium international will likely be the subject of a summer bid from the ten-time Champions League winners this summer, which could see Bale - whose representatives are reportedly in discussions with various English clubs - exit the Bernabeu.
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