Zinedine Zidane's men are undergoing a major rebuild following a poor 2018-19 campaign, with more than €100million already being spent to bring in Eder Militao and Luka Jovic.
More big-name signings are expected to follow in the coming weeks, including Chelsea forward Eden Hazard, but others - such as Bale and Navas - could be on their way out of the Santiago Bernabeu.
Bale played no part in Madrid's final three matches of last season, while goalkeeper Navas featured more regularly in the closing weeks of the campaign but has still been tipped to find a new club.
But both players featured prominently in the Los Blancos' kit launch, perhaps suggesting they still have a part to play under Zidane.
Madrid are rumoured to have delayed the unveiling of their iconic white jersey until Friday in the hope that Hazard would feature in the promotional clip, but that was not the case.
Despite an official agreement with Chelsea yet to have been reached, images have emerged on social media of shirts with his name on the back being sold in Madrid's club shop.
The pictures indicate Hazard has been given the number seven shirt, which was previously worn by Cristiano Ronaldo and has since been held by Mariano Diaz.