The Wales captain has come under fire in Spain this week after being pictured celebrating his country’s Euro 2020 qualification with a flag saying: “Wales. Golf. Madrid. In that order”.
Bale’s relationship with the Real Madrid fans is already tense, and he came close to leaving the club for China over the summer.
But with former Real boss Mourinho taking over at Spurs this week, Calderon suggested that the Portuguese could offer the forward an escape route that would suit everyone.
"It's true that Mourinho likes the player," Calderon told BBC Radio Wales.
"He said that in 2017 when he tried to sign (him) for Manchester United and Real Madrid decided to extend the contract of Gareth Bale.
"I remember him saying 'if he is by the exit door, I will be waiting on the other side', so maybe it's a solution."
He added: "The problem is there are no offers.
"It happened last summer when (Real manager Zinedine) Zidane said the sooner he leaves, the better. I think he was a bit fed up with the situation. Apparently only one club from China wanted to sign him.
"The salary is high, that's another problem. It's going to be something that the club, the agent and the player must decide."
Bale’s celebration with the controversial flag came after he had helped Wales to a 2-0 win over Hungary in Cardiff to secure their place at next summer’s European Championship.
It did nothing to help doubts held in Spain about whether Bale is as committed to his club as he is to his country.
"We don't if he knew what was on that banner," Calderon said.
"If he knew, it's clear that this was something childish but maybe he didn't.
"Maybe he was involved in the celebrations with other team-mates and he did that unwittingly, not trying to offend anyone or disrespect anyone. The problem is that picture has added fuel to the fire.
"You have to bear in mind that for fans it's a bit weird. They are angry because the player has gone around 50 days without playing for Real Madrid, missing six matches, and then suddenly they have seen him playing for Wales - very well by the way.
"That's been really the trouble, not just the banner but a combination of things."
Get the best features, fun and footballing frolics straight to your inbox every week.
Thank you for signing up to Four Four Two. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.