The Spanish side's president says that the club are willing to fund a big-money move for the Tottenham forward but must first wait for a new coach to be installed
The 66-year-old, who assembled the original 'Galacticos' at the Santiago Bernabeu, has long been an admirer of the Spurs forward and says that an expensive swoop would be viable because, over time, it would pay for itself but any possible bid this summer will have to wait as the Liga runners-up go about appointing Jose Mourinho's successor.
"Madrid always want the best. Tottenham is a very amicable club but first we must see who our new coach will be and after that we will begin to arrange our new squad," Perez told Marca.
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"I demonstrated in 2000 that, with players like this, you can change the dynamic, going from losing to winning. Then you have to look carefully at the player involved.
"We are not going to talk too much about Bale because he plays at a very amicable club and they will be annoyed by too much talk about him I know their chairman well and he doesn't like things like that. But, I repeat, we have a long list but there will be one particular player, of course."
Real Madrid striker Gonzalo Higuain has also made headlines as the disgruntled forward attracts interest from Juventus and Arsenal. Perez insists that nothing has been agreed on that front and warns that the Argentine will not be allowed to leave on the cheap.
"To date no team has told us of his interest in Higuain. I do not know what will happen tomorrow," he noted before adding of suggestions that the striker would cost £25 million: "With £25m it's better that they don't come. Let's see if people ask us for £50m for everyone and we sell one of ours for half that."