The 31-year-old has endured a bitter relationship with the Spanish champions over the last few years, with Zinedine Zidane omitting the Welsh forward in the closing stages of the La Liga title-winning campaign.
Bale was restrained during celebrations after clinching the title, while his manager revealed the player chose not to travel for the Champions League last 16 tie against Manchester City on Friday and was seen playing golf.
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Part of the problem with shifting Bale lies with his wages, reportedly worth £600,000 per week, but Calderon has now claimed Los Blancos may reluctantly make up a portion of his salary in order to cut ties.
“It’s very sad. It’s a pity to see a player like him in the stands… his skill and talent has not gone, he’s still a good player who could be playing at a high level in any team,” Calderon told the BBC.
“I think they’ll have to find a solution to end this agony for the sake of both sides.
“If he doesn’t want to reduce his salary, which would be understandable, they’ll have to find another way.
“The coach does not rely on him. If Zidane stays with Real, which I think is certain, then he (Bale) will have to find a new way…
“It wouldn’t surprise me if they let him go on loan and pay part of the salary.”
Bale’s agent Jonathan Barnett has previously dismissed talk the forward could leave on loan, maintaining the player is “going nowhere” last month.
But with two years remaining on his contract, both parties may be forced to find a compromise.