The superstar forward, who played just seven games during the 2021/22 campaign, pocketed a massive £28 million at Real last season.
But his new deal at LAFC will see him earn no more than £1.3 million in wages during his 12-month stay at the club, according to The Athletic.
He's agreed to slash his wages by £27.5 million to secure his move to the California-based team.
The deal also includes an 18-month option that would increase his salary and make him a designated player if triggered next summer.
Bale's staggering earnings at Real last season were 'more than double LAFC's entire payroll'.
The Major League Soccer outfit have fought off competition from a host of teams around the world.
Jonathan Barrett, Bale's agent, claims there were 'four or five serious offers' for the 32-year-old.
"It could have been more but we narrowed the field for him - he wasn’t going to Italy or Spain, for example," he said.
Bale had been linked with a stunning move to his home-town club Cardiff City, who were 'very keen' to sign the Welshman.
Cardiff owner Vincent Tan said: "We were very, very keen, he would have been a big coup for us. It would have been great for Gareth Bale to play for his hometown, all the Welsh would be very happy if Gareth Bale returned home and played for Cardiff.
"Personally, I think LAFC’s offer was too attractive for him to turn down. But originally he really wanted to come, the money wasn’t the matter."
Getafe and DC United were also eyeing a move for Bale before LAFC struck a deal.
Featured Image Credit: Los Angeles FC/Alamy
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