The former Real Madrid chief does not expect the Wales star to be sold but accepts his world-record transfer fee has been a burden for him.
The future of Gareth Bale "depends on the whims" of Florentino Perez, according to former Real Madrid president Ramon Calderon.
Bale has received heavy criticism this season for his performances from both the Spanish media and supporters. As a result, the Wales international has been linked with a summer exit, with Manchester United widely rumored as potential suitors.
Calderon, who preceded Perez at the helm of the Santiago Bernabeu outfit, says the current president is unlikely to admit a mistake in shelling out 100 million euros for Bale in 2013 by selling him this summer, though he concedes there is no guarantee.