The Welsh wizard was wanted at Old Trafford during his days in the Southampton academy.
And both Sir Alex Ferguson and David Moyes wanted to sign him while at Tottenham.
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Gareth Bale has been in fine form for Real Madrid this season
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Manchester United have been keen on Gareth Bale dating back to his time at Southampton
Bale has been a huge hit at Madrid since signing from Spurs for £80million in 2013 - winning two Champions League titles.
And Giggs reckons United will miss out on Bale if they try to sign him in the summer.
“He looks happy at Real Madrid. I don’t think he’s going anywhere at the moment," he told BBC Wales.
“From a fan’s point of view, it would be great to see him back in the Premier League.
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Ryan Giggs has dealt Manchester United a major transfer blow
“The United fans would love to see him at Old Trafford. You talk about the big clubs and United is up there.
“While he’s happy there [Madrid], I can’t see him leaving.”
Bale scored on his return to the Madrid side in their 2-0 La Liga win over Espanyol on Saturday.
He is expected to feature when the Spanish giants go up against Valencia tomorrow (745).