Bale is set to be one of a number of high-profile casualties as Florentino Perez wields the axe at the Bernabeu at the end of the season.
And a return to the Premier League has been heavily touted, with Chelsea, Manchester United and Tottenham all credited with interest in him.
Real will splash some serious cash in order to replace Bale and plug the hole he will leave on the right side of their attack.
The latest reports from Spain indicate Cristiano Ronaldo has a preference as to who should take the winger’s place alongside him.
According to Diario Gol, Ronaldo is eager for Real to prise Guedes away from Paris Saint-Germain.
The 21-year-old has made an impression during his loan spell at Valencia this season.
And he’s apparently done enough to convince Ronaldo to push for Real to sign him from PSG.
While Zinedine Zidane’s choice would be Chelsea wideman Eden Hazard.
Diario Gol indicate two other players are also in the mix as Real look to replace Gareth Bale.
Mohamed Salah’s performances at Liverpool have turned heads at Real this season.
And a raid on Atletico Madrid for Barcelona target Antoine Griezmann has not been ruled out.