According to Portuguese newspaper Record (via Sport Witness), a move to Italy, France or England is possible because Ronaldo, 33, has lost patience with Real president Florentino Perez over his refusal to bring the forward's salary in line with those of Lionel Messi and Neymar.
Alfredo Martinez of Onda Cero provided an image of Record's splash:
It's reported Perez promised to do just that following the 2017 UEFA Champions League final but has missed his "last opportunity" after meeting agent Jorge Mendes on Tuesday. Ronaldo's earnings are now eclipsed even by Alexis Sanchez's at Manchester United.
He has won the Ballon d'Or the past two years, helped Real claim three Champions Leagues in a row and has top-scored in Europe's premier club competition six seasons on the bounce.
Record explained it is not so much the money that concerns Ronaldo but "the recognition of his status."
Talk of Ronaldo's departure after nine years at Real has not come out of the blue.
The Portugal international set tongues wagging after Real's 3-1 victory over Liverpool in the Champions League final in May when he hinted his Bernabeu career could be coming to an end, per Spanish football writer Dermot Corrigan:
However, this is also not the first summer in which there have been rumours of Ronaldo leaving Los Blancos, per ESPN's Alex Shaw:
If he were to force an exit, there would likely only be a handful of clubs who could afford him, as he still has three years remaining on his Real contract.
PSG are an obvious candidate. As are Ronaldo's former club United.