The Wales international has been constantly linked with a move back to the Premier League since leaving Spurs for the Spanish giants for a then-world record fee in 2013.
United have been the team said to be at the front of the queue to sign the winger should he leave the Santiago Bernabeu outfit, but there has been a lift in reports of a potential return to his former side.
The 29-year-old remains contracted to Madrid until 2022 and has made 34 appearances in all competitions this season, but is said to be unhappy with his lack of starts under Santiago Solari.
With the four-time Champions League winner's future at the club under fire, Mason reckons he will not be short of options should he look for a way out this summer, highlighting United and Spurs as the ideal destinations.
"Manchester United and Tottenham stick out for me, as they are both clubs looking to get back to that top level," Bale's former Spurs team-mate told Sky Sports . "I think Manchester City are recruiting in a way where they recruit young, trying to develop.
"Bale could play anywhere, but I think for Tottenham it would be a huge statement signing, improve their front line and in wide positions. Why not make him that marquee signing as they move into that new stadium?
"The type of mentality he has, he'll be thinking: 'Where can I go and impact things and win things?' He'll want to go and make the rest of his career as successful as possible."
Meanwhile, ex-Brighton full-back Liam Rosenior believes Old Trafford would be ideal for Bale, as he may not have a place waiting for him in Mauricio Pochettino's side.
"On current form and style of play you'd probably say Manchester United. You could argue Tottenham, but they're so set in their ways, it would be difficult for him to come back," he said.
"The transition the club have made since he left has been massive, so it would be a totally different football club.
"He's won four Champions Leagues, so from his point of view anywhere from Real is a step down. But I'm sure he's at a stage in his career where he wants to be enjoying his football.
"He'll want to go and make the rest of his career as successful as possible."