Real Madrid star Cristiano Ronaldo has agreed a first refusal option with a European rival, it has been revealed.

El Mundo Deportivo says Ronaldo has penned a first refusal deal with Paris Saint-Germain.

The sensational report claims Ronaldo, 31, will head to the Ligue 1 champions if a new contract with Real cannot be done.

Real president Florentino Perez wants his star player to sign fresh terms at the Bernabeu.

But Ronaldo is reportedly aware of his earning potential elsewhere and could decide to quit after seven years at the club.

Manchester United are known suitors of their former player, who left for the Spanish capital in 2009 after winning his third Premier League title.

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