The Magpies could soon become the richest side in the Premier League as a Saudi consortium are thought to be in takeover talks with current owner Mike Ashley.
A recent report claimed that Steve Bruce's team are lining up a big-money move for Bale, who continues to be linked with a move away from the Spanish capital.
The 30-year-old, who still has more than two years left to run on his contract at the Bernabeu, has only scored three times in 18 appearances during the 2019-20 campaign.
There is no question that Newcastle will be a team to watch closely during this summer's transfer window if the proposed takeover does indeed go through in the coming weeks.
Experienced centre-forward Edinson Cavani has been linked with a move to St James' Park as his contract with Paris Saint-Germain enters its final weeks, while Lille midfielder Boubakary Soumare also continues to be linked with a switch to the Premier League.
A permanent move for Inter Milan's Valentino Lazaro, who is currently on loan at Bruce's side, could also be on the cards, while Danny Rose's loan move from Tottenham Hotspur could also become permanent.
Allan Saint-Maximin has impressed during the 2019-20 campaign and is likely to again feature on the left next season, opening up a right-sided attacking role for Bale.
The Wales international has only scored three times in all competitions this season, but he has managed an impressive 105 goals in 249 appearances for Madrid since arriving from Tottenham.
The attacker might well feel that he has a point to prove next season and affording his wages would not be a problem for the Magpies if their takeover is completed.