Gareth Bale: Manchester United and Tottenham offered Real Madrid winger

Real Madrid would prefer to sell Gareth Bale rather than allowing a loan, as the prospect grows of a return to England.

The Independent has been told that intermediaries are investigating the possibility of a move to either old club Tottenham Hotspur or Manchester United. While there is a feeling the right deal could be attractive to the clubs, both are very wary of overpaying for a 31-year-old.

Bale's camp are understood to have lowered any potential wage demands to £250,000 a week, but a remaining complication is that Madrid would prefer an outright fee of £20m. They are also aware that any loan would just see an unwanted player return at less value than before, given his age.

Manager Zinedine Zidane nevertheless wants Bale off the books as soon as possible, and no longer involved with the squad.

Madrid are fully conscious of this, and are looking into ways to make it happen. They may be prepared to fund some of Bale's salary.

Spurs could do with more firepower, and some sources believe they would be interested in a loan deal. Manchester United's main target in that position is Borussia Dortmund's Sancho, but the progress of that has almost slowed to a halt, and it has left the hierarchy investigating other options.

Bale is not currently seen as a live target due to his age, but some sources feel he could represent a good short-term option if United cannot land anyone else in that position in the meantime.