Real are facing serious competition from Manchester City and Paris St-Germain to sign Monaco’s 18 year old striking sensation.
And the only hope they have got of matching Monaco’s £120 million asking price is by offloading one of their star names before the transfer closes on August 31st.
But they have run into problems selling striker Alvaro Morata with Manchester United refusing to match their £80 million valuation.
While Chelsea are also reluctant to offer what they want and hope to get him for around £70 million despite being desperate to replace Diego Costa.
Real Madrid are prepared to listen to offers for Gareth Bale
Kylian Mbappe admitted this week he is unsure whether he will remain at Monaco
The Premier League champions could now switch their attentions to Borussia Dortmund striker Pierre-Emerick Aubameyang who is available for £65 million.
Real bosses know that they could bank £100 million by offloading the 27 year-old Welsh superstar who was hit by a series of injury problems last season.
Real boss Zinédine Zidane preferred Isco for the Champions League Final victory over Juventus and he had to come off the bench in the second half.
Real Madrid's most expensive XI of all time Tue, June 27, 2017
Express Sport reveals Real Madrid's most expensive XI of all time
Play slideshow Getty Images 1 of 12
Which players make up Real Madrid's most expensive starting XI of all-time?
Get Quotes on Home Insurance
Bale who earns around £350,000 a week after tax only signed a new contract until 2022 last October and insists he is happy in the Spanish capital.
He has been a long term target for Manchester United who are one of a few clubs in the world who could tempt him into quitting Madrid.
Paris St-Germain and Chelsea have also asked him in the past and would have the financial muscle to provide competition to United.