According to a report in this morning's Sunday Express, the Welshman has been made aware of the Red Devils' interest and is willing to hold talks with club's representives.
The 25-year-old moved to the Santiago Bernabéu 18 months ago and has since lifted the Champions League with the Spanish giants.
It is reported that United were in fact willing to part with more than the £86m it took to lure Bale away from Tottenham Hotspur in 2013 but they were unable to agree terms.
The Glazer family, however, are keen to amass a squad of Galácticos, copying the Madrid model, in the hope that it will increase the club's resale value in the near future.
Louis van Gaal's squad has been boosted by the arrivals of Angel di Maria and Radamel Falcao in recent months but the Old Trafford hierarchy appear willing to continue spending.
A deal is highly unlikely to arise in the January transfer window, though, with Madrid still fighting for honours in Europe and at home.
Van Gaal will also have to be patient if he is the secure the services of both Roma’s Kevin Strootman and Borussia Dortmund’s Mats Hummels.
With the latter becoming uneasy with his side's stuttering form, which has seen them plunge into the Bundesliga's relegation zone, a deal could happen next summer.
Should United be successful, next year's transfer outlay could even surpass the £160m spent this year.Reuse content