Bale hinted towards a move away from the Bernabeu after scoring twice in Madrid's 3-1 win over Liverpool in the Champions League final last month.
In an interview with Sky Sports News, Jonathan Barnett has revealed that the 28-year-old is happy in Spain but needs more minutes on the pitch.
"I think we have to have a chat with Real Madrid and see where we're going," said Barnett, the chairman of Stellar Group.
"He wants a better year than he had last year. He wants to play more, and that's paramount to him. I think he's one of the top three or four players on earth. For somebody like him, he has to play.
"It's not about money. He wants to win the Ballon d'Or and I think he can. I think he's the best there has ever been in that sense (a British player abroad), unless someone can name me someone who's been more successful.
"I think that goal (the overhead kick in the Champions League final) elevated an interest in him. But we already knew how good he is. He doesn't need to prove how good he is. It was a magnificent goal and the timing was great too.
"He loves his life in Spain. He has three children, and he's very happy there. But we have to see. He has to play football."
Bale, who has been linked with Manchester United, has four years left to run on his contract at the Bernabeu.