The five players include, Cristiano Ronaldo, Karim Benzema, Luka Modric, Toni Kroos and Marcelo.
The Los Blancos president, Perez wants to offload them in order to fund a new generation of Galactico signings ahead of the 2018/19 campaign.
Don Balon adds that Zidane will resist dropping star forward Ronaldo, left-back Marcelo and striker Benzema to the bench to avoid unrest in the dressing room ahead of Wednesday’s Champions League match against Tottenham.
Zidane, who was named FIFA coach of the year last week, is confident his side can turn their poor season around.
After a shock defeat to Girona, Zidane said, “We did well in the first half but football is about details and the first goal was from a throw in and we weren’t focused.
“I don’t think we played badly, we didn’t lack intensity or effort, we just lost focus at the most important moments and that’s why I’m annoyed.
“We’re eight points behind but it won’t change anything, we can pick ourselves up, we’ll have better days than this and our rivals are going to drop points.”
Zidane, who guided Madrid to a La Liga and Champions League double last season, are eight points behind Spanish leaders, Barcelona.
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