Real Madrid president Florentino Perez is set to drop a bombshell on the transfer market.

Desperate to clear several big names off the books, Florentino is granting free transfers to three senior players ahead of the summer transfer window.

ABC says Florentino has handed Gareth Bale, Isco and Marcelo a release from their contracts at the end of the season.

He has informed their representatives that they are free to negotiate with other clubs and he will not demand a fee to let them leave.

Isco and Marcelo are on the fringes of the first team, while Bale is on-loan with Tottenham.