The Athletic reports Bale is unlikely to return to Tottenham for another loan spell next season. The 31-year-old reportedly told Spurs of his decision to leave for good 'weeks ago' amid speculation over his future.
Tottenham were made aware of Bale's intention to steer clear of the club before Euro 2020 got underway.
Carlo Ancelotti emerging as Zinedine Zidane's surprise successor this summer may have increased the likelihood of Bale's Read Madrid stay.
The Welshman has previously admitted he gets on 'really well' with Ancelotti, who he won both the Champions League and Copa del Rey under.