• Real Madrid winger Gareth Bale.

Real Madrid winger Gareth Bale. (Photo : Getty Images)

Welsh forward Gareth Bale is reportedly set to receive a "deal for life" from his current mother club Real Madrid to make him one of the highest-paid footballers in the world as soon as he returns from his stint in the ongoing 2016 UEFA European Championship.

Daily Mail Online reported that the 26-year-old Cardiff native can expect a long-term deal from the La Liga giants that will stretch "way beyond his 30th birthday" and "as long as seven years", which will allegedly "scupper the interest from Premier League powerhouses".

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Speculations abound that Bale is being targeted by English clubs Manchester United, Chelsea, Arsenal, and his former team Tottenham Hotspur this summer, but Spain's capital city squad is said to be keen on keeping him for the rest of his prime at the Bernabéu.

The report noted that Los Blancos is intending to make Bale the club's "face of the future" even ahead of current superstar teammate Cristiano Ronaldo, who is also rumored to be eyed by the Red Devils and other rich football clubs such as Paris Saint-Germain and Liverpool.

Meanwhile, Caught Offside noted that the Bernabéu giants are literally "on the verge of making Bale a permanent fixture on the team" with the said upcoming deal.

The amount of the planned compensation was still undisclosed although it is allegedly a "contract for life" for the 6-foot winger, who was named Man of the Match in this season's Champions League final between the two Madrid clubs Real and Atletico.

Bale provided the assist for defender Sergio Ramos' 15th minute goal in the final and also scored one of the five penalty kicks during the shootout to lead Zinedine Zidane's squad over Los Colchoneros.

The Wales international currently holds the record for the world's richest football transfer of all time when he was acquired by Real from the Spurs for £85 million (€100.8 million) in the summer of 2013. It broke the then transfer record of teammate Ronaldo when the Portuguese was signed by Los Vikingos in 2009 from Manchester United for £80 million (€94 million).

Bale's transfer record is speculated to be broken if French midfielder Paul Pogba decides to exit Juventus this offseason. As of the moment, Real, United, Arsenal, Chelsea, and Barcelona are allegedly all prepared to spend as much as £125 million (€160 million) for Pogba to join them next season.