Bale is in Madrid and could sign for Real today.
"It's a Champions League team. Gareth's playing arguably the best football of his career in this moment in time. If he does make the move it should be a very exciting move for him," said McManaman.
"If Gareth does go there, he'll thoroughly enjoy himself and have no problems on the pitch because he's a wonderful player."
He continued: "As we know, the Spanish capital city is a wonderful place to live, that's what I would say. I've still got a house in Spain - I'm actually going back to Spain this evening. I've been coming in and out of Spain."
For the big stories and the banter follow us on Twitter: @tribalfootball