Ronaldo is expected to join Saudi side Al Nassr following his release from Manchester United earlier this month.
The 37-year-old is currently playing in the World Cup with Portugal but had his contract with Man United terminated following a controversial interview with Piers Morgan in which he criticized the club’s owners and management team.
Newcastle United have been named as a potential destination for Ronaldo after the Daily Mail reported the player’s agent, Jorge Mendes, spoke to the club about a potential move.
But the Daily Mail now claims the Portuguese icon is set to sign a record deal with Al Nassr worth a staggering £173m-a-year, or around £3.3m-a-week.
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Newcastle boss Eddie Howe has already played down a potential move for the veteran striker as the club look to sign young players with potential.
“He’s an exceptional player,” Howe previously said before Ronaldo’s exit. “If you look at his goalscoring record last year, it was amazing. For me, the transfer worked out, it’s a success.
“We try to provide long term growth, we have a longer term vision. At the moment we have quite an aging squad, so we probably need to invest in more young players. It’s probably a big part of our progression, really.
“We need to reduce the average age, so maybe it’s not a signing we would necessarily be looking to make – but without underestimating the quality of the player.”