The 30-year-old has only scored three times in 18 appearances for Los Blancos this season and his future in the Spanish capital is again being called into question.
Bale still has more than two years left to run on his contract at the Bernabeu, although it is understood that Los Blancos are determined to move him on ahead of the 2020-21 campaign.
Newcastle could soon become the richest side in the Premier League with a Saudi consortium thought to be in takeover talks with current owner Mike Ashley.
Here, Sports Mole looks at the shirt numbers available for the Wales international should he join Steve Bruce's side during this summer's transfer window.
Bale, who has been urged to join Newcastle by Brazil legend Rivaldo, has worn the number 11 for Madrid since arriving from Tottenham Hotspur in 2013, while he has also sported '11' for Wales over the last 10 years.
The former Southampton youngster had the number three jersey when he first arrived at Spurs, although he has since developed from a left-back to an attacker capable of playing in a number of different forward positions.
The number 11 at St James' Park is currently worn by Matt Ritchie, who only recently signed a new long-term deal, although it is not difficult to imagine a swap taking place if Bale did indeed arrive this summer.
Andy Carroll has the number seven at Newcastle, although there are question marks surrounding the striker's future, potentially opening up the famous jersey for the Madrid attacker.
It is unlikely that Bale would agree to join Newcastle unless he is given a so-called glamorous number, though, and while '7' and '11' could potentially become open, '9' would also surely be enticing for the attacker.
Joelinton took on the number nine upon his arrival from Hoffenheim last summer, but the 23-year-old has struggled during the 2019-20 campaign, managing just one Premier League goal.
Obafemi Martins, Carroll, Papiss Cisse, Dwight Gayle and Rondon have all worn the famous jersey for the Magpies since Alan Shearer's departure, and there might well be an opportunity for Bale to take it on.