Ronaldo has turned down a deal worth £26.7m from Los Blancos, according to Tuttosport.
The Portugal international’s future was cast into doubt in May when he hinted that Real's 3-1 win over Liverpool in the Champions League final would be the player’s final game for the club.
The five-time Ballon d'Or winner's former club Manchester United were without delay installed as the favorites to sign him, but the latest reports hint that they face competition from Juventus and Paris Saint-Germain.
Ronaldo's agent Jorge Mendes is said to be plotting his client's exit from Real.
This article was most recently revised and updated 3 years ago