Former Real Madrid president Ramon Calderon says Gareth Bale has become a "problem" for the club.
Tottenham and Manchester United are being linked with the Welshman.
Calderon told talkSPORT: "It's a problem. I feel sorry for the player, but the truth is he hasn't lived up to the expectation when he came.
"After six years, his situation is very difficult. Zidane has discarded him in his mind, clearly, and he proved that in the last two months when he took over the club and Bale sat on the bench.
"For me, the best option would be a loan, but we've heard what Bale's agent has said, it's easier to see him winning Ascot than leaving on loan. So it's a difficult situation for him."