Real Madrid have decided the end of the season will be time to cash in on an asset who will have three years left on his contract by the summer of 2015, according to a report in The Guardian.
Ronaldo turns 30 in February.
Ronaldo has been linked to a return back to Manchester United.
Ronaldo and his advisors spoke to the majority of Europe's richest clubs approximately 18 months ago about potentially leaving Real Madrid.