Bale reportedly was to negotiate a payout with Madrid and call time on his acclaimed playing career at 32.
And according to Spanish newspaper Marca, Bale wants to end his playing days after this summer’s tournament and will negotiate a €22million payout with Real – around £19m.
He managed just 16 LaLiga appearances for Real during the 2019-20 campaign as he fell out of favour with manager Zinedine Zidane.
The Welshman had been hoping to renew his career on loan at former side Tottenham this term – but featured in only 20 Premier League games.
He has achieved more than most in the professional game – winning four Champions League titles – and his existing contract expires next summer.
Fresh rumours come a month after reports about the ex-Southampton star wanting to quit football at the end of his Real deal emerged.
Bale may still see a future in the game as his former manager Carlo Ancelotti has been reappointed at the Bernabeu.
The winger flourished under the Italian bossbetween 2013 and 2015, putting in outstanding performances in the 2014 Champions League and Spanish Cup finals.
Ancelotti is believed to be a fan of Bale’sability and could be key to keeping his desire to play alive.