According to the Spanish press, Bale and Benzema have already been made aware that they will be let go in the summer.
United have frequently been linked with a move for the Welshman, but a move back to his former club could also be on the cards. Bale left Tottenham in 2013.
His time at Real Madrid has brough three Champions League trophies and a La Liga title, but Bale's form has been consistently undermined by injuries and he has frequently had to watch his team mates from the sidelines.
Bale has scored nine goals in 22 appearances for 'los Blancos' this season but it has been an underwhelming campaign for a team of Real's stature. They sit fourth in La Liga and were knocked out the Copa del Rey by Leganes. However, having beaten PSG 3-1 in the first leg of their Champions League knockout tie, an unprecedented third consecutive European Cup is still on their radar.