Real Madrid manager Bernd Schuster made it clear that they will pay whatever it takes to bring Ronaldo to Madrid.
"For a player of this level we will pay what is necessary as, for us, what is important is to win the Champions League," Schuster was quoted as saying in the British daily Sun.
According to Telegraph, the Spanish championsa re also offering to pay Ronaldo £ 182,000-a-week after tax, the potential deal is nearly double what is currently the biggest transfer in football history which occured when Zinedine Zidane joined Madrid from Juventus for £ 46 million in 2001.
Incidentally, Zidane also said on Sunday that Real Madrid would be ready to pay Manchester United a world record fee to bring the 23-year-old Portuguese to the Bernabeu.
"Real would not be frightened of paying a large sum of money because in the past every time they have wanted a player they have managed to bring him to Madrid," Zidane told a news conference.
Ronaldo, who helped United win the Premier League and last month's Champions League, said on Thursday there is a strong possibility he would join Real but a move was not down to him.