Reports in the Portuguese press claim the 32-year-old forward is set on a summer move - but what would it take to sign him and who could afford it?
ANALYSIS
It is the news that has shocked Spain. According to Portuguese sports daily A Bola, Cristiano Ronaldo has decided to leave Real Madrid and the paper describes the decision as "irreversible".
The four-time Ballon d'Or winner is enjoying the best spell of his career since signing for Los Blancos, having helped his club to a first Liga title since 2011-12 and also a third Champions League crown in four seasons.