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Manchester United has been rumored to be interested in acquiring the 25-year-old Bale and according to COPE in Spain, the Premier League side offered Real Madrid $154 million (€140 million) only to have it rejected.
A second report, from Mundo Deportivo, puts the record offer at $166 million (€150 million), although it appears a second player, Raphaël Varane, would have been part of that deal.
All European transfer rumors are to be taken with a grain of salt, especially ones that have to do with Madrid and Bale, but as Eurosport points out COPE has a "decent track record" and isn't one of the publications known for making stuff up, so maybe there's something to this one.
According to one estimate from Football-Observatory.com, Bale has a transfer value of $57.8-63.6 million, making him the 16th most valuable player in the world. However, very few of the top players in the world are actually obtainable, which could up the price for one on the open market.
Bale is considered one of the best wingers in the world, having scored 28 goals in two seasons since moving from the English Premier League to La Liga. So it is easy to see why Real Madrid would want to hold on to their young star especially since Cristiano Ronaldo is now on the north side of 30 will likely only have a few years left as one of the world's best players.
However, at the same time, Bale has been a controversial figure among fans of the Spanish club and the team has yet to win a league title with Bale on board, although they did win the 2014 Champions League. Either offer would have produced a tidy profit in the range of $22-34 million for the player and a chance for Real Madrid to refocus their efforts in other areas.
Instead, it appears Bale is staying in Spain.